Sources for TechCrunch said that part of the problem was that Chu's responsibilities (developer relations and business development) overlapped with those of Product Manager David Conway which led to problems. It is believed that with Rosenberg at the top, there will be no question of who is in charge at the Store. Additionally, it is hoped that with Rosenberg running the store, it will get more attention from top Google brass. Andy Rubin is said to be concerned with device activations and Google Search ad revenue and considers the success of the Google Play Store to be of a secondary concern.
While the App Store is considered a major part of the success of iOS, Android does not have the depth in its executive suite to give its Store the attention it deserves. Apple gets 6 times the revenue from the App Store than what Google was getting with the Android Market. This might change with Jamie Rosenberg in charge and explains the reason for the name change as Google has often subscribed to the theory that a new broom sweeps clean.