Rock Band 4 Publisher Mad Catz Loses CEO And Chairman Ahead Of Q3 Earnings Report

RockBand4 Freestyle Guitar
When it comes to executives in the tech industry, it’s not uncommon to see leave their post for personal reasons or perhaps to take a job at a competitor (or even in a completely unrelated field). One high-level executive leaving doesn’t typically set off any alarm bells. Two executives at the same time; maybe now you have something to talk about. But three top executives, including the CEO, bailing on a company is definitely cause for concern.

Such is the case with Mad Catz, a company known for its gaming controllers for the PC and consoles, and as a co-publisher of Rock Band 4. In the past 24 hours, Mad Catz has lost its President and CEO (Darren Richardson), Chairman (Thomas Brown) and General Council (Whitney Peterson). To make matters even more dicey, the three executives resigned just ahead of today’s quarterly earnings report. Youch!

Karen McGinnis, who previously served as Mad Catz’s Chief Financial Officer will settle into her new position as President and CEO. John Nyholt, a member of the company’s board of directors, will slip into the role of chairman. And finally, former Associate General Council Tyson Marshall has elevated to the position of General Counsel and Corporate Secretary.

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McGinnis made the best of the situation and had nothing but kinds words for the departed trio, stating, “We recognize the tremendous value that Thomas, Darren and Whitney have brought to Mad Catz during their tenure and thank them for their many contributions throughout the years.”

And perhaps signaling some difficult [financial] waters that Mad Catz has been navigating recently, McGinnis hopes that rearranging the deck chairs will lead to a more prosperous company. “Looking ahead, we are confident that we have a talented leadership team in place that will enable us to steer the Company on a steady course in its operations and financial performance as we look to grow our business and reward our shareholders.”

Mad Catz will report its Q3 result this afternoon, and all eyes will be on the sales performance of Rock Band 4, which the company co-published with Harmonix. Rock Band 4 was released on October 6th, 2015 and received generally favorable reviews.