GameStop may be in trouble after the company announced that its CEO stepped down on Friday.

Michael Mauler, GameStop Corp.'s  (GME - Get Report) CEO, announced that he was stepping down on Friday morning. 

Mauler has been GameStop's CEO for three months. 

GameStop has been struggling to excite investors after posting disappointing earnings. Right after it announced the appointment of Mauler, it fired Tony Bartel, COO, and Michael Hogan, an executive vice president. 

According to the company, Mauler resigned for personal reasons.

The company announced that Daniel DeMatteo, the co-founder of GameStop, would take over the role until the board can find a permanent CEO.

GameStop's shares plummeted nearly 2% when the announcement was made. A GameStop spokesman said DeMatteo was not available for an interview.