Atari has split its business into two divisions: Atari Gaming and Atari Blockchain, as well as announcing a new CEO at the company.
Atari’s gaming division will focus on retro gaming, specifically through mobile games, licensing and its VCS console. The company will continue to operate and develop its free-to-play mobile games, and will also begin to develop titles for console and PC. These games will have an emphasis on “revitalising classic Atari intellectual property for the modern era,” and will feature a “meaningful” single player campaign, couch co-op/multiplayer, and online play.
The blockchain division meanwhile will develop the Atari Token as a currency to be used in within Atari products and third-party partner applications.
Additionally, Atari announced that Wade J. Rosen, who has been the Chairman of the Board of Directors of Atari, has become the company’s new CEO. Former CEO Frédéric Chesnais meanwhile will focus on Licensing and Atari Blockchain.
“I’m honored to be a steward of something as iconic and legendary as Atari,” said Wade J. Rosen. “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.”
“8 years ago, when I came back, the brand was given for dead,” said Chesnais. “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.”