Videogame maker Atari Inc. announced that president/ceo James Caparro resigned, and the board appointed chairman/cco Bruno Bonnell to take his place on a temporary basis while it searches for a permanent replacement.
Shares of Atari Inc. dropped 54 cents, or about 18%, to $2.40 in after-hours activity.
Caparro is leaving Atari after fewer than eight months on the job to become president/ceo of Entertainment Distribution Corp., a division of Glenayre Technologies Inc.
In November, Caparro replaced Denis Guyennot, who served as president from Feb. 2000 to Aug. 2004 and is still a consultant to the company. Bonnell, a founder of the company that became Atari, previously served as Atari ceo before giving Caparro that title in Nov.
New York-based Atari is expected to report its fourth-quarter results next week. In Feb., the company said it expected to post results ranging from a loss of 8 cents to break even per share, before items, on revenue of $70 million to $80 million.
Analysts expect Atari to report a fourth-quarter loss of 4 cents per share on $76.4 million in revenue. A spokeswoman said Atari has not issued guidance for its first quarter.