AGOURA HILLS, Calif., June 24, 2009– THQ Inc. (NASDAQ: THQI) today announced a reorganization of the company’s management team and business units in support of THQ’s focused product strategy. In order to more directly align the organization with its previously announced strategy, THQ has formed three new business units: 1) Core Games; 2) Kids, Family and Casual Games; and 3) Online, and has promoted key executives to manage each of these units. Each unit manager will report directly to THQ President and CEO Brian Farrell.
Danny Bilson has been promoted to executive vice president, Core Games. Doug Clemmer has been promoted to executive vice president, Kids, Family and Casual Games and Steve Dauterman has been promoted to senior vice president, Online. In addition, Ian Curran has been promoted to executive vice president, Global Publishing and will oversee worldwide sales for THQ.
“The new structure specifically aligns our primary business units with our product strategy, enabling each team to focus on planning and execution in highly defined product areas with full profit and loss responsibility,” said Brian Farrell, president and CEO, THQ.“I look forward to working directly with Danny, Doug, Steve and Ian to execute on our focused strategic plan.”
As executive vice president, Core Games, Bilson will oversee production and marketing across THQ’s core gaming product portfolio, which includes action, shooter, strategy, racing and fighting games.
“I see this as a tremendous opportunity to build a portfolio of owned franchises for THQ,” said Danny Bilson, executive vice president, THQ Core Games.“We have an exciting pipeline of games, including Darksiders and MX vs. ATV Reflex, which are scheduled for release this fiscal year, and Homefront and Warhammer 40,000 Space Marine, which were recently unveiled at the E3 trade show and are scheduled for release next fiscal year.
By managing core games as a comprehensive business unit, my team can leverage our creative, development and marketing talents to deliver hit titles that resonate with our discriminating audience.”
Most recently, Bilson served as senior vice president of creative development for THQ. He brings to his new role more than 20 years of writing, directing and creative development experience for all major entertainment media, including video games, film, television and comic books. Prior to joining THQ, he served as vice president of intellectual property development and creative director for Electronic Arts’ worldwide studios, where he played a key creative role in The Sims™, Medal of Honor™ and Harry Potter™ franchises, among others.
Kids, Family and Casual Games
Doug Clemmer has been promoted to executive vice president of Kids, Family and Casual Games, which includes console, PC and wireless games targeted to mass market and family gamers. Clemmer will oversee production and marketing across THQ’s family and casual gaming product portfolio.
“For many years, THQ has delivered great family entertainment and my team understands the unique needs of this growing market segment,” said Doug Clemmer, executive vice president, THQ Kids, Family and Casual Games.“Gaming platforms such as the Nintendo Wii and Microsoft’s recently announced‘Project Natal’ are changing the way families play together and we are excited to develop gaming experiences that take full advantage of these platforms. Our strong portfolio includes original games such as Drawn to Life: The Next Chapter and World of Zoo, and games based on leading entertainment brands such as Marvel Super Hero Squad, Disney●Pixar’s Cars Race O’Rama, NBC’s The Biggest Loser and James Patterson’s Women’s Murder Club.”
Most recently, Doug Clemmer was a senior vice president and managed THQ’s ValuSoft casual games business and THQ Wireless. He joined THQ in 2002 after the company acquired his value-priced game publishing business, ValuSoft.
Steve Dauterman has been named senior vice president, Online. Dauterman will oversee all online initiatives and will also assist the business unit leaders in achieving their online objectives. Dauterman most recently served as senior vice president of product development in Asia Pacific and will continue to work from THQ’s Asia Pacific headquarters.
“We view the online gaming space worldwide as an important driver of THQ’s long-term growth. Our strategy is to leverage our established brands such as Company of Heroes, Warhammer 40,000 and WWE into the dedicated online space. We will also be exploring new game concepts and new business models in emerging regions,” said Steve Dauterman, senior vice president, THQ Online.“My team will also work with our Core and Kids, Family and Casual gaming units to help make connectivity a part of their gaming experiences.”
Global Sales and Publishing
THQ also announced the promotion of Ian Curran from executive vice president, International to executive vice president, Global Publishing. Reporting directly to President and CEO Brian Farrell, Curran’s responsibilities include sales, distribution and marketing for countries worldwide.
Under Curran’s leadership, THQ’s international sales have more than doubled and he has overseen the expansion of THQ’s global operations to include 15 direct sales and marketing locations outside of the Americas. Curran brings more than 15 years of publishing experience to his new position, including sales roles at leading media companies such as Time Warner Inc.
About THQ Inc.
THQ Inc. (NASDAQ: THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com. THQ, Company of Heroes, Darksiders, Drawn to Life: The Next Chapter, Homefront, MX vs. ATV Reflex, World of Zoo and the THQ logo are trademarks and/or registered trademarks of THQ Inc.
Wii is a registeredtrademark of Nintendo.
The statements contained in this press release that are not historical facts may be“forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as“THQ”), including, but not limited to, expectations and projections related to the company’s management team and business strategies, and are based upon management’s current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ’s financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period ended March 31, 2009, and particularly the discussion of risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.