THQ CFO Resigns for Unspecified Reasons

4
THQ executive vice president and chief financial officer Edward Zinser has today resigned from his position at the company.

With his departure taking effect immediately, Rasmus van der Colff will serve as a temporary CFO while the company investigates a long-term replacement. Colff joined THQ as vice president and controller in May 2007, and is said to have more than two decades in accounting experience.

The publisher, which recently lowered its sales estimates of the current fiscal year to $1.06 billion and delayed three titles, claimed that the resignation "is in no way related to the financial condition, results of operations or future prospects of THQ." As the action is not directly related to the company's financial well-being, it refuses to elaborate on the reasons behind Zinser's vacating of his position.

THQ develops and publishes a number of multi-platform titles based on licenses, including the American Girl clothing line, Bratz action figures, reality quiz show Are You Smarter Than a 5th Grader?, and scripted soap opera WWE SmackDown.

The company also publishes several original titles, such as Relic Entertainment's Company of Heroes (PC), GSC Game World's S.T.A.L.K.E.R.: Shadow of Chernobyl (PC), and Frozen Codebase's Screwjumper (X360).

"THQ has a deep and experienced management team," said chairman, president and CEO Brian Farrell. "We are confident in our position and remain focused on continued execution on our strategy for long-term growth."

Filed Under
From The Chatty
  • reply
    November 26, 2007 2:27 PM

    Is THQ doing bad financially?

    • reply
      November 26, 2007 2:40 PM

      Ah ok I see you made a small update... It doesn't sound like it was job performance. Hopefully something entertaining like a sex scandal.

Hello, Meet Lola