Infogrames paid Atari’s former CEO a cool $4.75 million to go away, unbeknownst to Atari’s own board of directors.
An annual SEC filing revealed that Infogrames extended the offer to ex-CEO Bruno Bonnell to remove him from the director’s seat and CEO position at Atari.
An accord was reached on April 4, 2007.
Atari said none of its top brass was consulted and that it did not even receive a copy of the deal until two months after the signing.
Atari endured a rough fiscal year in 2007 and five of its seven directors were removed by Infogrames in October of last year.
It nonetheless maintains distribution operations in North America totaling 30,000 retail stores and maintains Infogrames-licensed properties such as Dragon Ball Z and Alone in the Dark (pictured).
Source: Gamesindustry.biz
Published: Jul 7, 2008 05:55 pm