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.

71 Comments

  • boogertoes

    Posted Jan 18, 2008 7:02 pm PT

    uh that interesting, I guess.

  • joe_998

    Posted Dec 12, 2007 5:09 pm PT

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

  • Im_bettr_than_u

    Posted Dec 9, 2007 4:09 pm PT

    the headline makes no sence???????

  • joe_998

    Posted Dec 7, 2007 6:17 pm PT

    well *cough that sucks

  • Hotjim129

    Posted Nov 30, 2007 3:29 pm PT

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

  • LoneStranger

    Posted Nov 29, 2007 4:33 pm PT

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

  • snarple_basic

    Posted Nov 28, 2007 1:04 pm PT

    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

  • citizen-legend

    Posted Nov 27, 2007 5:17 pm PT

    that sucks

  • LordBelgarion

    Posted Nov 27, 2007 3:41 pm PT

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

  • valcrist09

    Posted Nov 27, 2007 3:36 pm PT

    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

    Posted Nov 27, 2007 3:34 pm PT

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

  • T-nosh

    Posted Nov 27, 2007 2:51 pm PT

    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

    Posted Nov 27, 2007 11:33 am PT

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

  • Viper_Sweden

    Posted Nov 27, 2007 10:32 am PT

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

  • EvilDarkGon

    Posted Nov 27, 2007 10:32 am PT

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

  • ShirkDawg

    Posted Nov 27, 2007 9:50 am PT

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

  • Sony98026

    Posted Nov 27, 2007 9:31 am PT

    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.

  • bobinho22

    Posted Nov 27, 2007 8:04 am PT

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

  • Makhdoom82

    Posted Nov 27, 2007 7:54 am PT

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

  • gogators4life

    Posted Nov 27, 2007 7:07 am PT

    Just make DOW 2 and quit!!!!!!!!!!!

  • truenextgen

    Posted Nov 27, 2007 6:46 am PT

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

  • v8nnwilder

    Posted Nov 27, 2007 5:28 am PT

    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

    Posted Nov 27, 2007 5:13 am PT

    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

    Posted Nov 27, 2007 4:49 am PT

    considering smackdown - and all - its a good thing

  • dorohala

    Posted Nov 27, 2007 3:59 am PT

    No Comment!!!

  • SHARPSHOOTER25

    Posted Nov 27, 2007 3:47 am PT

    Just. Make. Dawn. Of. War. 2.

  • DINOMON

    Posted Nov 27, 2007 3:22 am PT

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

  • mashom

    Posted Nov 27, 2007 2:23 am PT

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

  • devil_1994

    Posted Nov 27, 2007 1:56 am PT

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

    yeah you got that right i agree

  • margarypr

    Posted Nov 27, 2007 12:47 am PT

    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

    Posted Nov 26, 2007 11:12 pm PT

    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

    Posted Nov 26, 2007 10:55 pm PT

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

  • jacob-goodlich

    Posted Nov 26, 2007 10:21 pm PT

    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.

  • Einhanderkiller

    Posted Nov 26, 2007 10:12 pm PT

    THQ publishes some great PC games.

  • Stanza987

    Posted Nov 26, 2007 9:37 pm PT

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

  • olthof

    Posted Nov 26, 2007 7:47 pm PT

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

  • _AbBaNdOn

    Posted Nov 26, 2007 7:05 pm PT

    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

    Posted Nov 26, 2007 6:48 pm PT

    Hopefully this will help THQ in the long run.

  • Shakezulah

    Posted Nov 26, 2007 6:40 pm PT

    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

    Posted Nov 26, 2007 6:29 pm PT

    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

    Posted Nov 26, 2007 6:20 pm PT

    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

    Posted Nov 26, 2007 5:52 pm PT

    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

    Posted Nov 26, 2007 5:44 pm PT

    @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.

  • RadTbag

    Posted Nov 26, 2007 5:43 pm PT

    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!

  • wittbolds

    Posted Nov 26, 2007 5:32 pm PT

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

  • HyperMetaDragon

    Posted Nov 26, 2007 5:21 pm PT

    I don't really like THQ, to be honest.

  • halosniper52

    Posted Nov 26, 2007 5:05 pm PT

    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

    Posted Nov 26, 2007 4:59 pm PT

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

advertisement

Hot Stories

Newsmakers

Featured Stories

Submit News

Got tips? Send them in!

Related Game

Stuntman Ignition Boxshot
Stuntman Ignition

Game Stats

  • Rank:
    4,338 of 59,192
    (down by 295)
    X360 Rank:
    490 of 1,499
    Tracking:
    874 Track It»
    Wishlists:
    349 Wish It»
  • Users Now Playing:
    140
  • Number of Players:

    1-8

  • Top 5 User Tags:
    1. stuntman
    2. thq
    3. driving
    4. stuntman ignition
    5. xbox 360
  • Teen Rating Description

    Titles rated T (Teen) have content that may be suitable for ages 13 and older. Titles in this category may contain violence, suggestive themes, crude humor, minimal blood, simulated gambling, and/or infrequent use of strong language. Learn more

Full Game Details »Close
Also on

Related Games

Site Blogs