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THQ VP Resigns

A brief blurb on Gamasutra notes that Teri Manby has resigned her post as vice president, corporate controller and chief accounting officer at THQ as of July 6th. The story notes the financial woes THQ has been undergoing, implying that there's a connection. Word is CFO Paul Pucino will assume the role of Chief Accounting Officer and Rose Cunningham has been promoted to vice president and corporate controller. Thanks Joao.

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15. Re: THQ VP Resigns Jun 21, 2012, 16:50 NKD
 
One thing that I guess we can draw some comfort from is that Volition survived the collapse of Interplay, with any luck they'll survive this too.  
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If you don't like where gaming is heading, stop giving your money to the people who are taking it in that direction.
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14. Re: THQ VP Resigns Jun 21, 2012, 15:18 Trevellian
 
Wildone wrote on Jun 21, 2012, 11:25:
LMAO!!!!!!!!!!!!!!!!!BYE THQ (I actually thought u where dead already?!) I bet she got a nice resignation executive package, a few hundred thao!!!

What is your major malfunction? How is this in any way good news or even laughable. You dolt.
That means no Company of Heroes 2, no more Dawn of War, no more Darksiders, no more Saints Row. all of which are excellent series, not to mention the amount of people who will lose their jobs over it in an already bad economy.

You really are ignorant.
 
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13. Re: THQ VP Resigns Jun 21, 2012, 14:48 Beamer
 
xXBatmanXx wrote on Jun 21, 2012, 12:16:
Wildone wrote on Jun 21, 2012, 11:25:
bet she got a nice resignation executive package, a few hundred thao!!!

Most likely. VPs and above all have contracts that have exit clauses. Probably at the tune of 2-3 years lump sum + any benefits that were owed.

Depends if she truly left on her own or was asked to leave, but yeah, probably.
 
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12. Re: THQ VP Resigns Jun 21, 2012, 13:58 killer_roach
 
Rattlehead wrote on Jun 21, 2012, 13:44:
Down a slippery slope, I predict THQ to be dissolved totally before labor day.

I still maintain there's a chance that Time Warner buys them outright to fold them into WB Games, but, considering their debt load (more than an order of magnitude more than their market cap), any buyer is likely just waiting for the inevitable liquidation. Once that happens, almost anybody's in the running - Volition and Relic are the crown jewels, and the possibility that either could go for $50 million or less would make them incredibly sought-after.
 
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11. Re: THQ VP Resigns Jun 21, 2012, 13:44 Rattlehead
 
Down a slippery slope, I predict THQ to be dissolved totally before labor day.  
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10. Re: THQ VP Resigns Jun 21, 2012, 13:05 ASeven
 
It's not only THQ that is in bad shape, all publishers pretty much are in one degree or another. Hell, Sony and Nintendo are in a very bad shape as well, Sony much more than Nintendo. The result of terrible business models, scaring away gamers with bad business practices and not adapting to the future.

On another note, EA is close to reach 1997's level of stock price. I believe they have lost about $2 to $3B in stock capital alone since 2008.
 
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9. Re: THQ VP Resigns Jun 21, 2012, 12:35 Tumbler
 
Meh, I don't think this is much of a shock considering everything going on. Not sure why anyone thought this company wasn't in sad shape before this. I think they have a long way to go before they look secure. Maybe if they can get Darksiders 2 out and it's a huge success things will start to look up. Until then I'll just assume they're in a lot of trouble.  
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8. Re: THQ VP Resigns Jun 21, 2012, 12:21 NKD
 
Fuckfuckfuck. SR4 never coming out now. THQ going down the tuuuubes.  
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If you don't like where gaming is heading, stop giving your money to the people who are taking it in that direction.
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7. Re: THQ VP Resigns Jun 21, 2012, 12:16 xXBatmanXx
 
Wildone wrote on Jun 21, 2012, 11:25:
bet she got a nice resignation executive package, a few hundred thao!!!

Most likely. VPs and above all have contracts that have exit clauses. Probably at the tune of 2-3 years lump sum + any benefits that were owed.
 
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In this present crisis, government is not the solution to our problem; government is the problem. / Few men have virtue enough to withstand the highest bidder.
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6. Re: THQ VP Resigns Jun 21, 2012, 12:12 Verno
 
Please sell the Saints Row IP to like...shit there is no one left I would trust with that franchise. You know what, just sell Volition to Valve.  
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5. Re: THQ VP Resigns Jun 21, 2012, 11:25 Wildone
 
LMAO!!!!!!!!!!!!!!!!!BYE THQ (I actually thought u where dead already?!) I bet she got a nice resignation executive package, a few hundred thao!!!  
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4. Re: THQ VP Resigns Jun 21, 2012, 11:14 ASeven
 
Beamer wrote on Jun 21, 2012, 11:11:
xXBatmanXx wrote on Jun 21, 2012, 11:07:
ASeven wrote on Jun 21, 2012, 10:55:
Yeah, THQ is pretty much done. Stock prices today are slipping about 3.75%. I don't see THQ lasting much longer now.

Yea, VP departure is a major red flag. That sucks. Hopefully they sell off Saints Row to someone who won't shit on it.

It could be a red flag, but there's also a new CEO. What does a new leader do? Clear out the old guard. You get rid of the people you think were part of the problem and the people whose thinking you don't think you can change.

But since it's accounting...

It's the reason why he left that worries me, apparently it was due to the financial woes of THQ. If only the current CEO had been there years before...
 
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3. Re: THQ VP Resigns Jun 21, 2012, 11:11 Beamer
 
xXBatmanXx wrote on Jun 21, 2012, 11:07:
ASeven wrote on Jun 21, 2012, 10:55:
Yeah, THQ is pretty much done. Stock prices today are slipping about 3.75%. I don't see THQ lasting much longer now.

Yea, VP departure is a major red flag. That sucks. Hopefully they sell off Saints Row to someone who won't shit on it.

It could be a red flag, but there's also a new CEO. What does a new leader do? Clear out the old guard. You get rid of the people you think were part of the problem and the people whose thinking you don't think you can change.

But since it's accounting...
 
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http://www.deathwishinc.com
http://www.hydrahead.com
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2. Re: THQ VP Resigns Jun 21, 2012, 11:07 xXBatmanXx
 
ASeven wrote on Jun 21, 2012, 10:55:
Yeah, THQ is pretty much done. Stock prices today are slipping about 3.75%. I don't see THQ lasting much longer now.

Yea, VP departure is a major red flag. That sucks. Hopefully they sell off Saints Row to someone who won't shit on it.
 
Avatar 10714
 
In this present crisis, government is not the solution to our problem; government is the problem. / Few men have virtue enough to withstand the highest bidder.
Playing: New dad
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1. Re: THQ VP Resigns Jun 21, 2012, 10:55 ASeven
 
Yeah, THQ is pretty much done. Stock prices today are slipping about 3.75%. I don't see THQ lasting much longer now.  
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