THQ Secures Lifeline as CFO Paul Pucino Resigns
Written Wednesday, November 21, 2012 By Lee BradleyView author's profile
Mixed news for ailing publisher THQ overnight.
The company, which has been on the brink of bankrupcy for months now, has announced the resignation of its chief financial officer.
No replacement has been named, with FTI consulting retained to assist THQ’s finance and accounting team.
“We would like to thank Paul for his significant contributions over the past four years and wish him well in his future endeavors,” said THQ chairman and CEO Brian Farrell.
So that’s the bad news. The good news is that the publisher has secured a loan that will keep it operating into 2013.
It’s an important move as it will give THQ enough time to get its upcoming slate of (recently delayed) games onto shelves, thus allowing for a spike in revenue.
Now all THQ has to do is cross its fingers that Metro: Last Light, Company of Heroes 2 and South Park: The Stick of Truth perform well enough at retail to save it.