Chairman of Midway board to resign

Midway Games today announced that Neil Nicastro, its chairman of the board of directors, intends to resign immediately following the annual meeting of Midway stockholders on June 10. "I believe that Midway is a tremendous company with a bright future," he said. "But for personal and professional reasons, the time has come for me to move on."

"I personally appreciate the dedication and skill Neil has brought to his work for Midway over the years," added Sumner Redstone, one of Midway's largest shareholders. "Midway will announce a highly qualified successor shortly following the June 10th annual meeting."