Midway reshuffles execs

Two employees get promotions and are the "key to profitability," according to the still-leaderless Stranglehold publisher.

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After less-than-stellar fiscal-year results, Midway Games' CEO of five years, David Zucker, departed the firm. Afterward, senior vice president Matt Booty stepped up to the plate as the search for a new leader commenced.

The reasons for these misfortunes were manifold. BlackSite: Area 51 and Hour of Victory weren't huge commercial successes, Unreal Tournament III and Stranglehold suffered from delays, and Vin Diesel movie tie-in Wheelman was pushed back until 2008.

At the time of Zucker's departure, Midway chairman Shari Redstone said that "dynamic new leadership" was needed for the company to regain its footing.

The company still has no permanent CEO, but two other executives have been given promotions that make them "the key to putting Midway back on the path to profitability," according to interim chief executive Booty.

Miguel Iribarren has been promoted to senior vice president, publishing, and Martin Spiess has been given a leg up to executive vice president, international.

Iribarren originally joined Midway in 2002, and was most recently vice president of publishing. Before Midway, he worked as vice president of research for Wedbush Morgan Securities, the interactive-entertainment analysis firm that currently employs Michael Pachter.

Spiess joined Midway in 2005, and has been working since then as the company's European managing director.

Booty commented, "With these two executives, as well as the rest of our experienced management team, I am confident that we can improve execution and deliver on Midway's promise to regain its industry leadership and become a top tier, profitable company in the coming years."

Discussion

15 comments
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Chilean_demon
Chilean_demon

This game is going to take the crown of the best racing game....since GRID and Pro Street really sucks if you want to feel a little bit of adrenaline, cops escape and FUN!!!!

masters89
masters89

I love this man's games, Vin Diesel is an awesome actor hopes this one success like COR:Assault on dark athena.

ThaSod
ThaSod

Changing executives will definitely help! /sarcasm

des_kong
des_kong

Stranglehold is a nice game, but the requirement for this game for PC are too high...some bugs and no patch.

buzzguy
buzzguy

Just release UT3 on 360 already! That'll make you guys some $$$!

Pete5506
Pete5506

I hope they can work it out

nate1222
nate1222

Again, I know I sound like a broken record on this issue. But as I've stated REPEATEDLY: the development costs are TOO DAMN HIGH on PS3 and XBox 360! It's gotten way outta hand! When a game has to sell 2-3 million copies just to break even, the indutry is in trouble. The Wii has the potential to thwart this. And Sony needs to keep supporting the PS2 if they want to stay afloat. Wii and PS2 both cost 1/4 to 1/3 the cost of PS3 or Xbox 360 to develop for. Wii and PS2 also have bigger consumer bases than 360 and PS3. Right now, the gaming industry needs that. Midway is just another publisher feeling the pinch.

cooldude03
cooldude03

When big publishers like Midway are having bad a finantial year it's no wonder that indy developers are going out of business. I hope that Midway can get back on top because Midway has been close to my heart since NBA Jam and MK first came out. I did my part I bought both Stranglehold and Blacksite. Blacksite was nothing spectacular, but wasn't aweful either. Stranglehold on the other hand was great it had that whole Max Payne, Dead to Rights feel that with a great movie tie-in. I plan to buy UT3 when it comes out for 360 instead of PS3 do to online features on XboxLive. I think a big problem is promoting and advertising, hopefully this new leadership can correct that problem.

Deluka
Deluka

we'll have to hope for the best

BOERGOE
BOERGOE

A new MK game might help them

jaredcrazy3232
jaredcrazy3232

all I can say is make a new Hitz and Blitz game.... no league stuff only the basics, fighting and sports.

dmish82
dmish82

Midway has definitely been a mess as of late and it's shown in it's games unfortunately.

Strommy
Strommy

This company is in a mess. Buyout anyone?