Following its acquisition of Saitek, Mad Catz has promoted one of Saitek’s executives to the Mad Catz board of directors.
Accessory manufacturer Mad Catz Interactive announced today the appointment of John C. DeRuig to the company’s board of directors. The appointment of Mr. DeRuig expands the board to six members, five of whom are considered independent under the corporate governance standards set by the American Stock Exchange, where Mad Catz trades. DeRuig started his career as a public accountant prior to a 20-year career at toy maker Mattel. For over 20 years, he served as a member of the supervisory board of Saitek European Distribution Group and the Saitek Group Governance Council before Saitek’s acquisition by Mad Catz.
Mad Catz Chairman Geof Myers said, “John DeRuig brings extensive international business experience to the Mad Catz Board of Directors, having held various management positions throughout Europe, Asia and the United States. Having worked with John during Mad Catz’ acquisition of Saitek, we are delighted to welcome him to the Board of Directors and look forward to the benefit of his extensive financial experience, in-depth knowledge of Saitek and the European consumer retail markets. We believe John’s background will prove valuable as we continue to expand our business globally.”
“The combination of Mad Catz and Saitek creates a truly impressive organization, one with an opportunity to become the global leader in high-quality interactive entertainment accessories. I look forward to working with Geof, Darren and the rest of the members of the Mad Catz Board and management to help the Company realize the opportunity to grow its shareholder value,” added DeRuig.