NEWS - Thursday, June 21, 2012

THQ VP steps down

The corporate shuffling at beleaguered publisher THQ is continuing. In a Securities and Exchange Commission document made public this week, THQ announced that company vice president, corporate controller, and chief accounting officer Teri Manby has resigned from the company. She officially left her post on June 14, but will remain with THQ until July 6 to transition her duties to new leadership.

Senior director of financial reporting Rose Cunningham, a seven-year THQ veteran, has been promoted to the role of vice president, corporate controller of the company. Elsewhere in the filing, it was revealed that THQ chief financial officer Paul Pucino will take on Manby’s chief accounting officer position.
This news follows an announcement from the end of May, when Naughty Dog co-founder Jason Rubin was named president of THQ. As part of this announcement, it was revealed that company vice president of core games Danny Bilson had left the publisher to "pursue other interests."
Yesterday, THQ announced that it had canceled standalone Saints Row: The Third expansion Enter the Dominatrix, and would instead fold this content into the next installment in the series, slated to arrive in 2013. THQ estimates this will mean taking a $20 million hit in net sales for the current financial year.
THQ has had a difficult run of late, as the publisher is looking to divest itself of Tomonobu Itagaki’s Devil’s Third project citing profitability concerns. Earlier this year, the publisher laid off hundreds as part of a restructuring to exit the children’s licensed game market, and then changed its long-awaited massively multiplayer online role-playing game Warhammer 40,000: Dark Millennium Online to a standard RPG in light of "changing market dynamics and the additional investment required to complete the game as an MMO." That change led to 118 more layoffs.



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