Atari Announces Departure of Chief Financial Officer.Entertainment Editors/Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 23, 2004 Atari, Inc. (Nasdaq: ATAR), a leader in interactive entertainment, today announced that David J. Fremed, who has served as Senior Vice President and Chief Financial Officer of Atari, Inc. since May 2000, has resigned, effective immediately. As the Company conducts a search for a successor, Harry Rubin, Senior Executive Vice President of Atari, will be overseeing the Finance group, which includes Jodi Scheurenbrand, Vice President of Finance/Controller; Robert Lazzara, Vice President of Finance/Treasury; and Ryan Barr, Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. . Bruno Bonnell, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atari, Inc., commented, "David has been a key contributor to the process of creating the solid financial reporting and control systems that we have in place today. His hard work and service to Atari over the past four years have provided the financial stability necessary for the Company to become a leading provider of interactive entertainment. We are happy for him and wish him well in his new venture and hope to announce a successor as soon as possible." Mr. Fremed commented, "While I have enjoyed my years at Atari immensely, the chance to build a new business from the ground up was an opportunity I could not pass up. I am quite comfortable that Atari is in a solid financial condition and positioned to pursue new growth opportunities." About Atari New York-based Atari, Inc. (Nasdaq: ATAR) develops interactive games for all platforms and is one of the largest third-party publishers of interactive entertainment software in the U.S. The Company's 1,000+ titles include hard-core, genre-defining games such as Driver(TM), Enter the Matrix(TM), Neverwinter Nights(TM), Stuntman stunt·man n. A man who substitutes for a performer in scenes requiring physical daring or involving physical risk. stuntman n → especialista m stuntman (TM), Test Drive(R), Unreal(R) Tournament 2003, and Unreal(R) Championship; and mass-market and children's games such as Backyard Sports(TM), Nickelodeon's Blue's Clues(TM) and Dora the Explorer Dora the Explorer is an animated television series that is carried on the Nickelodeon cable television network. A pilot episode for the series aired in 1999, and Dora the Explorer became a regular series in 2000. (TM), Civilization(R), Dragon Ball Z “DBZ” redirects here. For the meteorological term, see dBZ (meteorology). Dragon Ball Z (ドラゴンボールZ (R) and RollerCoaster Tycoon(R). Atari, Inc. is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of France-based Infogrames Entertainment SA (Euronext 5257), the largest interactive games publisher in Europe. For more information, visit www.atari.com. SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. STATEMENT With the exception of the historical information contained in this release, the matters described herein contain certain "forward-looking statements" that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements in this release are not promises or guarantees and are subject to risks and uncertainties that could cause our actual results to differ materially from those anticipated. These statements are based on management's current expectations and assumptions and are naturally subject to uncertainty and changes in circumstances. We caution you not to place undue reliance upon any such forward-looking statements. Actual results may vary materially from those expressed or implied by the statements herein. Some of the factors which could cause our results to differ materially include the following: the loss of key customers, such as Wal-Mart, Best Buy, Target or Toys "R" Us Toys "R" Us (currently typeset as ToYsЯuS in the logo) is a toy store chain based in the United States, Canada, Australia,The Netherlands, South Africa, Hong Kong and the United Kingdom. ; fluctuations in the Company's quarterly net revenues and results of operations based on the seasonality of our industry; delays in product development and related product release schedules; maintaining relationships with leading independent video game software developers; adapting to the rapidly changing industry technology, including new console technology; maintaining or acquiring licenses to intellectual property; the termination or modification of our agreements with hardware manufacturers; and other factors described in our SEC filings, including our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2003, our quarterly reports on Form 10-Q Form 10-Q See 10-Q. , and our Registration Statement on Form S-2 (as filed with the SEC on September 18, 2003, Registration No. 333-107819). The Company undertakes no duty to update any forward-looking statements to conform the statement to actual results or changes in the Company's expectations. |
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