THQ Names New President
THQ, which has suffered about as big of a hit a company can take without filing for bankruptcy this past year, has named a new president. Naughty Dog co-founder Jason Rubin will be filling the position effective immediately, and honestly, not a moment too soon. THQ is being threatened with delistment from the NASDAQ stock exchange if they can’t get their stock price to trade above $1 a share for 10 consecutive days. Hopefully this news of a new president will help THQ avoid delistment.
However, the loss of a couple of vice presidents could temper a stock surge. Executive vice president Danny Bilson is stepping down from the position in the company to “pursue other interests”. Dave Davis, the senior vice president of Core Games is also leaving the company, and will be replaced by Jason Kay.
These kinds of changes aren’t exactly unexpected for a company in the trouble that THQ has been in. It’s obvious that they’re trying to go for another approach now in an attempt to boost confidence that the company can remain viable. However, that might take some time, as the stock went down almost 5% to end the day at 58 cents.
