New York - Struggling video game publisher Atari (NASD: ATAR) has announced the resignation of chief executive David Pierce, along with a restructuring that will include layoffs and a complete withdrawal from the game development business as the company re-focuses on publishing and distribution in North America.

The company said that Curtis G. Solsvig III, its recently appointed chief restructuring officer, will become interim CEO while an executive search for a new chief executive is conducted.

Atari will terminate its production agreement with France-based parent company Infogrames; its operations will now include title acquisition, sales and marketing, and physical distribution of products from Infogrames and other partners.

The company also said it has licensed its "Test Drive" franchise to Infogrames, and received a $5 million advance royalty.

Atari also recently secured a $10 million credit facility as part of its overall financial restructuring.

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