Atari's parent company Infogrames has been suffering from a poor financial track record in recent times, with the publisher's recent economic woes revealing declining losses, but also dwindling revenues, profits, and sales. However, the Infogrames Group has charted a map for improved profitability, which involves an infusion of some €102 million ($160 million) in convertible bonds.
In a further move to establish its new course toward profitability, Infogrames has announced David Gardner as CEO--effective immediately, following the resignation of group chairman and CEO Patrick Leleu.
Gardner, who received an OBE last year for helping foster creative talent and games development in the UK, joins the executive team at Infogrames from Electronic Arts. He started at EA nearly a quarter of a century ago in 1983, and finished up as executive vice president and chief operating officer of worldwide studios.
According to a statement, Gardner will focus on transforming the company, with the process to include "rejuvenating the Atari brand name," building an online platform for distribution and gaming, "assembling a world-class management team, and restoring group profitability through selective cost-cutting measures."
Infogrames has not announced why its outgoing CEO and chairman, Patrick Leleu, has left the company. Leleu had been in the post for only nine months,and had replaced the previous CEO, Bruno Bonnell, last April.
In a separate statement, the group also announced Michel Combes, who joined in October as independent director, as chairman, and Dominique D'Hinnin as vice chairman of the board. D'Hinnin has also been an independent director since 2005.
The company overhauled the board of its best-known subsidiary, Atari, in October.