GameStop CEO Paul Raines underwent unexpected surgery last week to have a small, cancerous tumor removed from his brain. The retailer announced the news today in a Securities and Exchange Commission filing. According to GameStop, the surgery, which involved doctors removing the tumor from an "easily accessible" part of his brain, was successful. Raines, 50, is expected to make a full recovery.
"Because it was found very early, his doctors have advised him that his prognosis for a full and complete recovery is very good," GameStop said in a statement (via GamesIndustry International). "The next step is for Paul to undergo preventive chemotherapy. Recovery from this process is expected to take about six weeks. This regimen will restrict his travel during that period, but will not interfere with his continued leadership of the company."
GameStop executive chairman Daniel DeMatteo said, "Speaking for the Board, we have every confidence in Paul's continued leadership and wish him a speedy recovery. While he recovers, our highly-tenured executive team will ensure that our business continues without interruption."
"We thank you for your support during this time."
GameStop will report earnings for the latest quarter this Thursday, August 21. Based on this information, we don't expect Raines will attend the event. Just this week, GameStop introduced a new program that aims to simplify the trade-in process.
News about Raines' health has not spooked investors, as GameStop shares have remained largely flat today.
|Eddie Makuch is a news editor at GameSpot, and you can follow him on Twitter @EddieMakuch|
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