News

THQ CFO Quits

| 27 Nov 2007 14:15

A month after THQ reported quarterly losses, company CFO Edward Zinser tendered his resignation.

The publisher issued a statement to the effect that Zinser's exit was "in no way related to the financial condition, results of operations, or future prospects of THQ." Rather, the statement continued, the CFO's resignation was the culmination of a "mutual agreement" between him and the company.

THQ reported earlier this month that there was a $7 million net loss for the quarter on $229.3 million in revenues, a sharp step down from the $11.6 million net profit on $240.2 million revenue in the same quarter last year.

Poor sales and delays of various games, including Juiced 2 and Stuntman: Ignition, contributed to the decline in numbers.

The resignation was effective immediately. Rasmus van der Colff, THQ's vice president, has temporarily stepped into the position.

Source: Gamespot

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