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GameStop CEO Paul Raines treated for cancerous brain tumour; company expects him to stay in job

NEW YORK, N.Y. - GameStop Corp. said Tuesday that its CEO, Paul Raines, had surgery last week to remove a cancerous brain tumour.

The video game retailer said the tumour was "very small" and found early. The prognosis for a full recovery is "very good," GameStop said in a filing with the Securities and Exchange Commission.

Raines, 50, will now undergo preventive chemotherapy. The treatment is expected to take about six weeks.

The Grapevine, Texas company said that Raines will restrict travel during that period, but the treatment should not interfere with his job.

"We have every confidence in Paul's continued leadership and wish him a speedy recovery," said GameStop's Executive Chairman Daniel DeMatteo in a statement. "While he recovers, our highly-tenured executive team will ensure that our business continues without interruption."

Raines was named to the CEO post in June 2010.

The company, which operates about 6,600 stores around the world, is expected to release is second-quarter earnings report on Thursday.

GameStop shares rose 61 cents to $41.25 in morning trading Tuesday.

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