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3DO Announces New COO

3DO announced that it has hired William Dully as its new Chief Operating Officer, reporting to Chairman and CEO, Trip Hawkins.
Dully most recently was Chief Operating Officer of the Upper Deck Company, the sports trading card company. Dully will also serve as the Company's acting Chief Financial Officer, replacing Kathleen McElwee, who is leaving 3DO for personal reasons. Product Development at 3DO is now led by Senior Vice President Paul Grace, who will continue to report directly to Hawkins. All other operational and administrative functions within 3DO will report to Dully. "[Dully's] arrival allows me to focus on helping Paul Grace continue the trend of improving our products and development strategies," said Hawkins. In the December quarter just completed, 3DO undertook significant restructuring efforts affecting headcount, overhead expenses, cash burn rates, and overall business risk. Headcount is currently 350, with approximately 280 involved in product development. The company said its outlook for the current March quarter is very positive, with revenues expected to be in the $23-$25 million range.

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