Atari Appoints New CEO, Will Contest Nasdaq Delisting

| 6 Sep 2006 04:00

Facing Nasdaq stock delisting, Atari appoints David Pierce as its new President and CEO.

Atari, Inc. announced yesterday that entertainment industry veteran David Pierce has been appointed as its new President and Chief Executive Officer. Pierce's resume includes two decades of work in executive management positions with several high-profile entertainment companies, including Universal Pictures, MGM, Sony Pictures and Sony Music Entertainment.

Former Atari CEO Bruno Bonnell will stay on with the company as Chairman and Chief Creative Officer. Bonnell, who according to the press release will now work in partnership with Pierce, commented, "David has spent his career in the entertainment business and has a clear understanding and appreciation for our consumers. His leadership skills, first-hand operational execution and keen focus on profitability and investment value make him the ideal person to lead Atari."

The news follows Atari's announcement last week that its common stock was officially subject to Nasdaq delisting for failing to maintain a minimum bid price. Atari indicated it would request a hearing before the Nasdaq Listing Qualifications Panel, which will delay the delisting at least temporarily. The company noted, "There can be no assurance that the Panel will grant the Company's request for continued listing on The Nasdaq Global Market."

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