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Sega's CEO Tenders Resignation

Sega of America's President and CEO, Peter Moore, tendered his resignation today.
While Sega didn't explain the reason for his departure, it is assumed that SOA's recent financial disappointments prompted Moore's decision. Moore's duties will be handled the parent company's CEO, Tetsu Kayama. "We thank Peter Moore for his four years of service at SEGA and wish him well in his future endeavors," Kayama said in a statement. In Novemeber Sega was forced to lower its profit forecast by 70 percent for the current fiscal year, primarily due to fierce competition between SOA and Electronic Arts. EA's Madden series trounced Sega's NFL 2K3 title, forcing Sega to drastically cut its revenue expectations.

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