GameStop Corp., the largest specialty retailer of video games, said Chief Executive Officer Paul Raines underwent surgery to identify and remove a small cancerous tumor from his brain.
The tumor, located in “an easily accessible” part of the brain, was found early and doctors said his prospects to make a full recovery are good, the company said in a filing today. Raines, 50, will now undergo preventative chemotherapy. His rehabilitation is expected to last about six weeks, a period that will limit his ability to travel without interfering with his duties as CEO, GameStop said.
“Speaking for the board, we have every confidence in Paul’s continued leadership and wish him a speedy recovery,” Daniel DeMatteo, executive chairman at GameStop, said in the filing. “While he recovers, our highly-tenured executive team will ensure that our business continues without interruption.”
Raines has been CEO of Grapevine, Texas-based GameStop since June 2010, and previously served as chief operating officer. Prior to that, he was an executive at Home Depot Inc.
Matt Hodges, a spokesman for GameStop, declined to comment on Raines’s condition beyond today’s statement.