THQ CFO quits

Following "mutual agreement," Edward Zinser resigns his post as WWE SmackDown! publisher's top accountant; VP Rasmus van der Colff taking reins temporarily.

The month of November started with THQ reporting that it had met its financial estimates for the quarter ending September 30, 2007. Problem was, those estimates had been lowered just the month before, following lackluster sales of Stuntman: Ignition and Juiced 2: Hot Import Nights, as well as the delays of Destroy All Humans!: Path of the Furon and Frontlines: Fuel of War. For the quarter, THQ reported a net loss of $7 million on revenues of $229.3 million, down from the $11.6 million net profit and $240.2 million in revenue it took in during the same period in 2006.

Nearly one month later, THQ chief financial officer Edward Zinser has announced his resignation. In a brief announcement, the company stressed that the executive's departure "is in no way related to the financial condition, results of operations, or future prospects of THQ." Instead, Zinser's exit, which is effective immediately, came following a "mutual agreement between Mr. Zinser and the company." THQ vice president and controller Rasmus van der Colff has stepped in as interim chief financial officer until the publisher can find a permanent replacement for Mr. Zinser.

THQ declined to elaborate further on the resignation, which was revealed after trading had closed on the East Coast markets. The company's stock ended the day down $1.30 (5.17 percent) at $23.86, but was up slightly in after-hours trading.

Written By

Want the latest news about Destroy All Humans! Path of the Furon?

Destroy All Humans! Path of the Furon

Destroy All Humans! Path of the Furon

Follow

Discussion

71 comments
joe_998
joe_998

OMG if they didn't put CFO between THQ and quit, I'll be VERY angry in the bad form.

joe_998
joe_998

well *cough that sucks

Hotjim129
Hotjim129

they should be back and better than ever soon enough or at least i hope...

LoneStranger
LoneStranger

I hate how the headline or the smaller head mentions something that the article never touches.

snarple_basic
snarple_basic

All I know is I want my $60 back for them ruining my S VS R 08. The running game is annoying, to many people running and not grappeling. Last year was fun this year is just a bunch of idiots running in circle's till they hit you. Not to mention limiting the wrestlers with what they can do just because of there wrestling style was a horrible idea. I have never thought I could hate this game sooooo much this year, after playing tons of matches online in 07, and 06. Hell i swear i shed a tear as I put waaaay to much time into 08 trying to like it, it hurts man it hurts. Next year I hope they work off of 07 and realize there mistakes. RIP

LordBelgarion
LordBelgarion

Tiss, tiss. You're right, but no reason to swear like that!

valcrist09
valcrist09

JohnDeadly you are a idiot, just because you dont like the game THQ makes doesnt mean they have to go out and everyone loses there jobs. God you are a a** hole.

doanm
doanm

SOO... if his departure was unrelated to the financial situation of THQ, why the hell even bother mentioning it in this article?

T-nosh
T-nosh

Seems like things aint goin to the best. Maybe you all should have took your time in making most of those games instead of rushing it off. That WWE you all made was one of the worst ever. Instead of following the fighting format of PS you should have kept their graphics and place in the fighting of nintendo. The game was a big slack off and i bought it thinking i could have done soooooo much and got soo little. So maybe you all deserve this.

Subacious
Subacious

THQ made what, a billion dollars last year? Their fine.

Viper_Sweden
Viper_Sweden

I would appreciate it if THQ started rushing games... First Titan Quest and then Conan... Will it ever stop?

EvilDarkGon
EvilDarkGon

Companies generally tend to lose profit when they release mediocre, dime a dozen, toilet-bowl, car-themed games.

ShirkDawg
ShirkDawg

NOOOOOOOOOO Chief Financial Officer of THQ is quitting?!!!! My life is ruined. Best post ever Gamespot, and I REALLY MEAN THAT.

Sony98026
Sony98026

JohnDeadly your an idiot! Why would you wish a company to go out of business? Those are people jobs you are talking about, and lets not forget how it effect the economy when a large company goes under.

JohnDeadly
JohnDeadly

[This message was deleted at the request of a moderator or administrator]

bobinho22
bobinho22

they should make Titan Quest 2!!!!!!!!!!!

Makhdoom82
Makhdoom82

Hmm THQ should Publish game and try to folllow Activision's path and Ubisoft's .... EA is still the king though !!!

truenextgen
truenextgen

Oh ??? Maybe that explains the MTx physics, in the MX vs ATV Untamed Demo. Their kinda farting around?

v8nnwilder
v8nnwilder

Just a question? Do any one of you guys remember the Wrestling game WAY back on Sega? Like easily about 13 years ago? That one rocked! And the also the first wrestling game on PS1... Even thou according to todays standard it had awful graphics and all it still felt as if you were really hitting someone with a chair... and through a table... Don't get me wrong S V R is good but it started lacking that "power" effect even the old titles had... And it's not like you can change much to it as Wrestling only has so much elements to use but still... Sorry not just b**ching about wrestling but if THQ want to get back into it they must look at what made those titles fun in the first place... And then maybe even try something brand new!!

stevedcc
stevedcc

Maybe THQ will get their act together and avoid ridiculous stunts like delaying Supreme Commander: Forged alliance 3 weeks for everyone outside the US. Only second class businesses treat their customers like second class citizens.

sturshel
sturshel

considering smackdown - and all - its a good thing

DINOMON
DINOMON

I wish they would stop making expansions for DoW, instead make a bleeding sequel. With 'nids!!!

mashom
mashom

I hope this time it work with the THQ, Preety hard times on THQ.

devil_1994
devil_1994

the mudora:He's running away from the crime scene: The murder of SVR08. yeah you got that right i agree

margarypr
margarypr

THQ is ok with me... but they ruined S VS R 08... I mean, it's like the same over and over again, better grafics with not so much improvement in the gameplay. The same with EA with the boxing games, I love the boxing games but they need to improve it, and a lot. With so many great games around and amazing and unique things in the next gen consoles that everyone expect more and more. Thats something that I always hated of sports games... so many few add on in each year just to make sure to add something else in another year.

Nxss-effa-sim
Nxss-effa-sim

I don't know. I haven't really found many games that appeal to my from THQ. The only games I can think of off the top of my head that I actually liked are Dawn of War and Company of Heroes. Maybe this is a sign for THQ execs to start encouraging original IP instead of relying on Nickelodeon and crappy games in general. Developing fewer, better games is key. Buying up a few small developers wouldn't hurt either, at least the company will gain more creativity and different perspectives. It would only help matters if they weren't publicly trade to begin with.

TheMudora
TheMudora

He's running away from the crime scene: The murder of SVR08.

jacob-goodlich
jacob-goodlich

i like THQ but there games are pretty average, or probably a bit above average but never memerable. i think that they should work on really big games.

Stanza987
Stanza987

If you marketed Supreme Commander: Forged Alliance...at all.. maybe THQ would be better off.

olthof
olthof

Company of Heroes anyone or DoW? THQ does make awesome games

_AbBaNdOn
_AbBaNdOn

Hmmmm. THQ is like 50/50 in my book. Stuntman Ignition was a huge improvement over the first but still lacks replay value. Destroy all humans gets better with each one and is very polished but it to could use some replay value added.

Why play Juiced 1-2 when there is NFS and Smackdown vs Raw is a pathetic joke compared to what THQ did on the n64 with the wrestling games. Dont know anything about Frontlines.

I'd like them to pull through but they have got to step up their game.

Agreb91
Agreb91

Hopefully this will help THQ in the long run.

Shakezulah
Shakezulah

I still like THQ purely for Red Faction and Saints Row. They have a few other good titles, too, but those two series are where it's at. I can't wait for RF3 mostly. Not good to see them doing somewhat poorly, but I'm sure they'll work it out and get a new start.

ahyumifan
ahyumifan

THQ does make few nice titles, but compare to how many bad, BAD titles they made, I would not say this is such a good company to work.

sniper_99
sniper_99

hopefully this will result in the change of the SVR series as it has been getting really dumbed down every year. I want backstage for hardcore matches pleaz!

Cradleofbodom
Cradleofbodom

THQ makes all them stupid, low rated, games, like sponge bob and stuff. Microsoft, activision, nintendo, Bethesda make good ones, I really don't understand why anyone cares.

Kantwon
Kantwon

@RgvXavi They're putting motorcycles in the second one, also airplanes. They show screens for both of them in the latest issue of Game Informer. I don't care about the other THQ games. I just hope the sequel to Saints Row is good.

Kantwon
Kantwon

[This message was deleted at the request of the original poster]

RadTbag
RadTbag

THQ is one of my FAVORITE game companies, I'm sure this is a wise business decision for the company! Now lets get some SmackDown games like they used to be! 8)

wittbolds
wittbolds

THQ doesn't make games worth playing anyway, so who cares

halosniper52
halosniper52

ya it would be cool if they did a makeover of svr its starting to get boring just the same thing year after year

omrikk87
omrikk87

maybe we will get a proper WWE game\Wrestling game finally? plz plz plz , ill even play it online , just please...