THQ CFO quits

By Tor Thorsen, GameSpotPosted Nov 26, 2007 2:58 pm PT

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 !!!

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