THQ has announced that former senior VP and CFO of test and measurement company Tektronix Colin Slade will be joining the publisher as its new executive VP and CFO, following the departure of Edward Zinser last November.
Zinser's departure was accompanied
by a carefully worded statement from THQ saying explicitly that his "resignation is in no way related to the financial condition, results of operations or future prospects of THQ." The company had, at the time, recently released financial results that had it reporting slightly reduced revenue of $229.3 million, and dropping to a loss of $7.0 million, after titles such as Stuntman
and Juiced 2
failed to score major sales.
Slade will assume his new post at the end of February. The publisher says Slade brings "extensive strategic planning, corporate development, investor relations and financial and accounting experience" to the company.
Prior to Tektronix, Slade has held "key positions" at Graphic Software Systems, Inc. and accounting firm Price WaterhouseCoopers, and is a board member of AMI Semiconductor.
Said Slade, “THQ is a terrific company with a strong financial foundation and I am excited to play a part in driving the company’s continued growth. With my prior experience in the technology industry, I understand the complexities of developing software in a rapidly changing environment and I look forward to working with Brian and the rest of THQ’s management team to maximize opportunities as we move forward.”