Atari CEO resigns as company exits game development

Filed under: Business

Amidst spiraling profits, Atari Games has announced its intent to fully depart from the game development business. The company's rapidly-depleting assets will instead be focused primarily on the acquisition, distribution and publishing of parent company Infogrames' titles.

In the wake of the restructuring, David Pierce, Atari's chief executive officer, has also announced his resignation. Curtis G. Solsvig III, the company's chief restructuring officer, will temporarily take over Pierce's duties as the company searches for new blood. Solsvig himself was only hired last month, following Infogrames' decision to eject the majority of Atari's board of directors.

Atari's original IPs have been slowly disintegrating over the last two years, as the company sold the Driver series to Ubisoft, and the Stuntman franchise to THQ. The Test Drive series has now been licensed to Infogrames, who own 51% of Atari's stock.

Sorry, Atari, but do you know what we like to do when the chips are down? Sing! Check out the video after the break to help cheer yourselves up.

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[via] Joystiq