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Atari announces the creation of two divisions, Atari Gaming and Atari Blockchain, and a change in Leadership

Nachrichtenquelle: globenewswire
06.04.2021, 08:00  |  1048   |   |   

Atari announces the creation of two divisions, Atari Gaming and Atari Blockchain, and a change in Leadership

Atari Gaming will operate games, the Atari VCS and licensing

Atari Blockchain will operate the Atari Token, and explore new opportunities in blockchain, NFTs, and online worlds

Effective April 6, 2021, Wade J. Rosen will become Chief Executive Officer of the entire Atari Group, Frédéric Chesnais to focus on Atari Blockchain and Licensing

Paris, April 6, 2021 – Atari, one of the world's most iconic consumer brands and interactive entertainment producers, announced today that Wade J. Rosen, currently Chairman of the Board of Directors of Atari, will become Chief Executive Officer effective April 6, 2021. The Company also announced the creation of 2 divisions, Atari Gaming and Atari Blockchain. Frédéric Chesnais, current CEO, will focus on Licensing and Atari Blockchain.

I'm honored to be a steward of something as iconic and legendary as Atari. I would also like to thank Fred Chesnais for turning around the company, which is now well positioned for such incredible long-term success. When Fred stepped into the role of Chief Executive Officer, he inherited a situation burdened with debt. Since then, he has eliminated debt and enacted a meaningful turnaround. He had the foresight to push Atari into cutting edge markets like Blockchain, the VCS, and the Atari Hotels. It's because of him that the company is at its strongest valuation in seven years. We thank Fred for his leadership and are excited to continue working with Fred as he focuses on Licensing for the entire group and the development and growth of the exciting Blockchain Division created today,” said Wade J. Rosen, Chairman of the Board of Directors of Atari, S.A.

For Frédéric Chesnais, current CEO and a significant shareholder of Atari: “8 years ago, when I came back, the brand was given for dead. This spectacular turnaround is the result of solid teamwork and support from the shareholders, and I would like to thank each and every one of these individuals. We can all be proud of this outcome. The Atari brand is alive, more than ever, and this organization in two divisions will help us adapt to the changes in our business line.”.

Gaming Division. The Gaming Division of Atari, which will include all assets not included in the Blockchain Division, will be focused on gaming, and specifically the expanding market of retro gaming. Financially, Atari will prioritize incremental long-term growth and sustainable cashflow. To do this Atari will focus on three key pillars for the Gaming Division: Gaming, the VCS, and Licensing. 

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Atari announces the creation of two divisions, Atari Gaming and Atari Blockchain, and a change in Leadership Atari announces the creation of two divisions, Atari Gaming and Atari Blockchain, and a change in Leadership Atari Gaming will operate games, the Atari VCS and licensing Atari Blockchain will operate the Atari Token, and explore new opportunities …

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