PARIS, Oct 8 (Reuters) - Europe’s largest video games maker Infogrames IFOE.PA, seeking to restore profitability at its 51 percent owned U.S. affiliate Atari Inc ATR.O, said five of the current Atari board directors would be removed.
The new board will notably select and appoint a chief restructuring officer whose mission will be to reposition Atari Inc. as a “reliable player in the U.S. video games market”, the company said in a statement on Monday.
Infogrames deputy CEOs Thomas Schmider and Jean-Michel Perbet, as well as Infogrames board member Evence Charles Coppee, will stay on the board of Atari Inc, while additional directors will be named, it said.
The newly composed board will focus on restructuring measures for Atari Inc. in order to stabilise its operations and reduce its losses, which Infogrames said were a significant drain on the group’s profitability.
By 0934 GMT, Infogrames shares were off 5 percent at 0.19 euros, bringing losses so far this yar to 50 percent.