Home

Resigns

Chief Financial Officer of Gemstar-TV Guide Resigns

Authored by Mark Hefflinger on January 19, 2006 - 3:08am.
Los Angeles - Gemstar-TV Guide International, a provider of electronic program guides for digital TV services, announced on Thursday the resignation of chief financial officer Brian D. Urban, whose contract was due to expire in June. Until the company locates a new CFO, chief executive Rich Battista will serve in the position.
tags: Games | Gemstar-TV | Chief Financial Officer | Resigns |

Shares Plunge As Majesco CEO Resigns, Company Reduces Outlook

Authored by Mark Hefflinger on July 13, 2005 - 10:23am.
Edison, N.J. -- Video game publisher Majesco announced on Wednesday that company chairman and CEO Carl Yankowski has resigned, under a mutual agreement with the company. Majesco's board elected current board member Jim Halpin to chairman, and has commenced a search for a new chief executive. The company also named John Gross as its new chief financial officer. New Jersey-based Majesco additionally lowered its 2005 financial outlook: the company previously expected revenues of $175-$185 million and income of $16-$18 million, but now anticipates revenues of $120-$125 million and an operating loss of $16-$19 million. The company blamed its woes on the bankruptcy of one of its customers; "substantially weaker than expected sales"; the shifting of a movie-related game's release date; lower than expected initial orders and soft reorders; and an exceptionally slow summer. "We are disappointed in our anticipated results for the year," said Majesco president Jesse Sutton. "Our weaker than expected sales and recent discussions with industry partners have led us to conclude that it is prudent to adjust our guidance. Despite the difficult retail environment we are experiencing, we plan to exploit the growing market for video game products and remain focused on producing high-quality games and other digital entertainment products." The company's shares fell nearly 56% on Wednesday.
tags: Majesco | CEO | Resigns | Shares Plunge | Reduces Outlook |

Former NBC Exec Sassa Resigns As CEO of Friendster

Authored by Mark Hefflinger on May 25, 2005 - 6:26am.
Los Angeles -- Scott Sassa, the former president of NBC Entertainment who accepted the job of chief executive of social networking site Friendster a little over a year ago, has resigned. "For his own reasons, it's just not a fit for him right now, and he's moving on," Russell Siegelman, a managing partner at Friendster investor Kleiner Perkins Caufield & Byers, told CNET News.com. "It's unfortunate, but the company will move on." Sassa replaced Friendster founder Jonathan Abrams in the CEO post in June 2004, and will be replaced by Taek Kwon, executive vice president for products and technology at Citysearch.
tags: Friendster | NBC | CEO | Resigns | Sassa |

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 |

Mel Karmazin Resigns as President of Viacom; Moonves, Freston to Step In

Authored by Mark Hefflinger on June 1, 2004 - 3:50pm.
New York -- Media conglomerate Viacom, whose holdings include CBS, Paramount Pictures and MTV Networks, announced on Tuesday that company president Mel Karmazin has resigned. Viacom named MTV Networks chairman and CEO Tom Freston, and CBS chairman and CEO Leslie Moonves as co-presidents and co-chief operating officers of the company, reporting to Viacom chairman and CEO Sumner Redstone. As part of the succession plan, Redstone also announced he will step down as CEO within three years. "We very much regret Mel's decision to resign and we wish him well," said Redstone. "He has been instrumental in Viacom's operating success since our merger with CBS and he leaves with an extraordinary track record of accomplishment." Redstone said in a conference call that Karmazin was frustrated with Viacom's struggling radio operations, as well as with the company's share price, the Associated Press reported.
tags: Resigns | Mel Karmazin | President of Viacom | Moonves | Freston | Step In |

Head of Microsoft Games Publishing Division Resigns

Authored by Mark Hefflinger on January 14, 2004 - 3:30am.
Redmond, Wash. -- Microsoft on Wednesday confirmed that the corporate vice president of its Games Publishing division, Ed Fries, has resigned from the company, Reuters reported. Fries is credited with heading the company's console game software efforts, including the creation of popular titles like "Halo" and "Flight Simulator." The unit's Microsoft Game Studios also had its best holiday season ever, with strong sales for titles such as "Project Gotham Racing 2" and "Crimson Skies." Robbie Bach, the senior vice president of Fries' division, told Reuters that he hopes to name a successor before the Electronic Entertainment Expo industry trade show in May. Xbox co-creator Seamus Blackley also resigned from the company in 2002.
tags: Games | Microsoft | Resigns |

Former EUniverse CEO Resigns from Board, Files Suit Against Company

Authored by Mark Hefflinger on December 12, 2003 - 5:13am.
Los Angeles -- Brad Greenspan, the recently departed CEO of EUniverse, a provider of entertainment-related websites and newsletters, announced on Friday his resignation from the company's board of directors, as well as the filing of a lawsuit against the company, its board and a venture capital firm that invested in the company. In the lawsuit, Greenspan alleges that "certain directors of the Board have embarked upon a scheme to entrench themselves in office… breach[ing] their fiduciary duties to the company." Greenspan also alleges that the terms of San Bruno, Calif.-based VantagePoint Venture Partners' recent $8 million investment in EUniverse "may have a material adverse impact on the company's ability to relist its common stock on The Nasdaq SmallCap Market." http://biz.yahoo.com/pz/031212/49649.html 
tags: CEO | Resigns | Board | Files | EUniverse |

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 |

LA Times: President of LucasArts Video Game Unit Resigns

Authored by Mark Hefflinger on October 9, 2003 - 4:46am.
Los Angeles -- The president of LucasArts, the video game development unit of "Star Wars" director George Lucas' film company, resigned abruptly on Thursday, The Los Angeles Times reported. Simon Jeffrey had served as the company's president for three years. A LucasArts spokeswoman did not provide The Times with a reason for Jeffrey's departure or details on a replacement.
tags: LucasArts | Video Game | LA Times | President | Resigns |

Game Developer Bam Entertainment CEO Resigns; Shares Delisted from Nasdaq

Authored by Mark Hefflinger on March 25, 2003 - 4:12am.
San Jose, Calif. -- Video game developer Bam Entertainment announced on Tuesday that the Nasdaq has delisted its shares from its main exchange, and that the stock will now trade on the Nasdaq SmallCap Market. The company also announced that president and chief operating officer Bernard Stolar is leaving the company to pursue other opportunities. Bam CEO Ray Musci will take over Stolar's duties, while Stolar will continue in a consulting capacity to the company. San Jose, Calif.-based Bam Entertainment has developed a number of games based on TV and film properties, including Cartoon Network's "Powerpuff Girls" and "Dexter's Laboratory," the films "Ballistic: Ecks vs. Sever" and "Reign of Fire," and Disney's "Winnie the Pooh."
tags: Games | Nasdaq | CEO | Resigns | Bam Entertainment |

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 |

Morpheus File-Sharing Network CEO Steve Griffin Resigns

Authored by Mark Hefflinger on March 17, 2003 - 5:08am.
Nashville, Tenn. -- The CEO of StreamCast Networks, operator of the Morpheus peer-to-peer file-sharing network currently being sued by entertainment companies for copyright infringement, announced his resignation from the company late Friday. The company said CEO Steve Griffin left "to pursue other opportunities." Tennessee-based StreamCast, which along with fellow file-sharing providers Grokster and Kazaa was sued by most of the major movie studios and record labels, said it is currently seeking a replacement for Griffin and that its management team will run the company's operations in the meantime.
tags: File-Sharing | Morpheus | CEO | Resigns | Steve Griffin |