After his sudden and unexpected stepping down as the president of Activision Blizzard’s ‘Guitar Hero’ franchise on Tuesday, Dan Rosensweig has taken over as the CEO of Chegg Inc – a Santa Clara, California-based online textbook rental company.

Rosensweig, an-ex chief operating officer at Yahoo and a Quadrangle Group partner, was hired by Activision Blizzard in March last year, chiefly to prop up the game publisher’s ‘Guitar Hero’ brand. He was expected to go further up the ladder at Activision, due to his known closeness with the Activision CEO Booby Kotick who had served on the Yahoo board.

Well known and respected in Silicon Valley and media circles, Rosensweig has quit Activision Blizzard amid tough times for music video games. As per NPD Group data, ‘Guitar Hero’ saw that of four major sequels and spinoffs this fall; and all of these reported either poor or modest sales.

NPD also noted that total domestic revenue for music and dancing games plunged 46 percent last year; partly due to the notable shift in consumer spending from high-priced hardware to less-expensive software; and partly due to the downturn and declining interest in the arena.

Talking about the reason for his joining Chegg. com, Rosensweig said he was primarily attracted by the company’s high-growth business in a $10-billion marketplace serving an important function – that of making the escalating higher education costs affordable for students.