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Chairman, Board Member Resign from Game Publisher Majesco

Authored by Mark Hefflinger on February 10, 2006 - 3:01am.
Edison, N.J. - Struggling video game publisher Majesco announced on Friday that it has named company founder Morris Sutton as its chairman and interim CEO, replacing resigning chairman James Halpin and filling the vacant CEO spot. Majesco said it will continue to seek a permanent CEO. In addition to Halpin, Marc Weisman has also resigned from the company's board, and Majesco is seeking two new board members. The company also announced that it has received notice from the Nasdaq that its shares could face delisting from the exchange, as it no longer has a minimum of $10 million in stockholders' equity. Majesco's shares have fallen steadily over the past year, from a high of $13.45 in Feb. 2005 to just over $1 today. Recently, the company announced its intention to exit the console games market and focus instead on budget-priced and handheld games.
tags: Games | Majesco | Resign | Publisher | Chairman | Board Member |

Codemasters Appoints New Chairman, Gets Investment from Benchmark

Authored by Mark Hefflinger on February 3, 2006 - 6:39am.
London - U.K.-based video game developer Codemasters announced on Friday that Chirs Deering, former chairman and CEO of Sony Computer Entertainment Europe, has joined the company's board as non-executive chairman. Codemasters also announced that venture capital firm Benchmark Capital Europe has increased its investment in the company. Benchmark acquired 40% of the company in April 2005, and has now increased its stake in Codemasters to 70%.
tags: Chairman | Investment | Appoint | Codemasters | Benchmark |

MTV Names Judy McGrath Chairman and CEO; President Rosenthal Resigns

Authored by Mark Hefflinger on July 20, 2004 - 5:03am.
New York -- MTV Networks announced on Tuesday that it has named Judy McGrath as chairman and CEO, succeeding Tom Freston, who was named co-president of MTV parent company Viacom. Previously, McGrath served as president of MTV Networks Group. The company also announced the departure of MTV president and chief operating officer Mark Rosenthal.
tags: MTV | CEO | Chairman | President | Resigns | Judy McGrath | Rosenthal |

Chairman of Video Game Developer Midway Games Resigns

Authored by Mark Hefflinger on June 4, 2004 - 3:10pm.
Chicago -- Video game developer Midway Games announced on Friday that company chairman Neil D. Nicastro will resign his position, following the company's June 10 stockholder meeting. "I believe that Midway is a tremendous company with a bright future, but for personal and professional reasons the time has come for me to move on," said Nicastro. Viacom chairman and CEO Sumner Redstone, also Midway's largest shareholder, said a successor for Nicastro will be named shortly following the stockholder meeting.
tags: Midway Games | Chairman | Resigns | Video Game Developer |

Disney Board Votes to Strip CEO Eisner of Chairman Role

Authored by Mark Hefflinger on March 4, 2004 - 6:53am.
Los Angeles -- Following a vote of no confidence from 43% of the company's shareholders, the board of directors of The Walt Disney Company voted yesterday to strip CEO Michael Eisner of his additional role as chairman of the company. The company named board member and former U.S. Sen. George Mitchell as chairman in his stead. Wednesday's vote of no confidence from shareholders came as Disney has seen sagging profits in recent years, as well as the loss of a lucrative partnership with digital animation studio Pixar and Eisner's rebuffing of a takeover offer from cable TV operator Comcast. "Today's unprecedented withhold vote by Disney's shareholders sends a powerful message that Disney's board and management need to focus more on shareholder interests," a Comcast spokeswoman told CNN. "Consistent with this focus, Disney's independent directors should immediately meet with Comcast so we can directly present our full and generous proposal and the benefits of the merger." Some of the shareholder groups are still hoping to see Eisner's full departure from the company; his current contract is set to expire in 2006.
tags: CEO | Chairman | Disney Board | Eisner |

Sammy CEO Named Chairman of Japanese Video Games Firm Sega

Authored by Mark Hefflinger on February 18, 2004 - 8:21am.
Tokyo -- Japanese video game maker Sega announced that current company chairman Hideki Sato will step down, to be replaced by Hajime Satomi, CEO of Sammy, the Japanese maker of Pachinko and video games that purchased a controlling stake in Sega last year. Sega said that Sato will become vice chairman of the company, while Hisao Oguchi will retain his current role as president.
tags: Sega | CEO | Japanese | Chairman | Video Games | Sammy |

Bertelsmann 3Q Earnings Up 78%; Chairman Resigns

Authored by Mark Hefflinger on November 20, 2003 - 7:19am.
Frankfurt -- German media giant Bertelsmann -- the No. 5 record company in the world and owner of publisher Random House -- on Thursday reported a 78% increase in third-quarter earnings. The news was largely overshadowed, however, by the surprising resignation of supervisory board chairman Gerd Schulte-Hillen, who reportedly quit because of disagreements with senior management over the company's plans to merge its record label business with Sony's. The news has led some analysts to suggest there is a growing rift between the supervisory board chairman and the CEO at Bertelsmann. Former CEO Thomas Middelhoff resigned only a year ago.
tags: Bertelsmann | Chairman | Resigns | 3Q |

Diller Resigns as Chairman and CEO of Vivendi Universal Entertainment

Authored by Mark Hefflinger on March 19, 2003 - 4:48am.
New York -- Barry Diller announced on Thursday his resignation as chairman and CEO of Vivendi Universal Entertainment, the U.S. entertainment arm of the debt-laden French media conglomerate. "My executive role was never intended to be permanent," said Diller, who remains chairman and CEO of USA Interactive. "Now that Vivendi Universal has begun a formal process in reviewing options for its entertainment assets, it is appropriate to step aside from any direct management responsibility." Separately, Diller's USA Interactive announced on Wednesday that it acquired all the shares of online travel site Expedia that it did not already own for $3.3 billion.
tags: Vivendi Universal | CEO | Chairman | Resigns | Diller |

Webcasting Firm Loudeye Announces Resignation of New Chairman, CEO

Authored by Mark Hefflinger on March 12, 2003 - 5:27am.
Seattle -- Loudeye Technologies, a provider of webcasting and digital audio song sample services, announced on Wednesday the departure of its chairman and CEO, who themselves were just announced as the company's new top executives on Feb. 4.. Leaving are CEO Phil Gioia, a principal with Regent Pacific Management -- a firm Loudye had retained to explore strategic alternatives, with which the company ended business with effective today -- and chairman Chad Waite, a general partner of OVP Venture Partners. The departing executives replaced John Baker, who resigned as chairman and CEO. Seattle-based Loudeye named Jeff Cavins as its new president and CEO, and Anthony Bay, a three-year board member, as its new chairman. Most recently, Cavins served as a senior vice president for Exodus Communications, a managed hosting and interactive Web services company.
tags: Loudeye | CEO | Resignation | Chairman | Webcasting |

AOL Time Warner Names Richard Parsons As Chairman and CEO

Authored by Mark Hefflinger on January 17, 2003 - 6:24am.
New York -- AOL Time Warner announced that its board of directors voted to combine the positions of chairman and CEO, and unanimously named Richard Parsons to the position. Parsons will replace current chairman Steve Case, who announced his resignation last week and will step down in May. "I am highly gratified that the Board shares my determination to maximize AOL Time Warner's tremendous potential," said Parsons.
tags: AOL | CEO | Time Warner | Chairman | Richard Parsons |

Steve Case to Step Down as Chairman of AOL Time Warner

Authored by Mark Hefflinger on January 13, 2003 - 6:53am.
Dulles, Va. -- In a move that some analysts believe sets the stage for a spin-off of America Online, Steve Case, the man who engineered the merger that created AOL Time Warner two years ago, said on Sunday that he plans to resign his post as chairman of the company in May. Case said that he is making the move in part because "some shareholders continue to focus their disappointment with the company's post-merger performance on me personally," leading to distractions within the company. America Online has been the lone unprofitable unit at AOL Time Warner, which has been forced to write off several billion dollars since the merger to account for its decreased value. Company shareholders have been angered by the company's 68 percent stock decline since the merger. Case, a co-founder of America Online, is the third top company executive to leave under pressure in the past year, after the departures of COO Bob Pittman and CEO Gerald Levin. http://biz.yahoo.com/bw/030112/122006_1.html
tags: Chairman | AOL Time Warner | Steve |