Game developer, publisher and operator GigaMedia Ltd. confirmed that president and chief operating officer Thomas Hui has resigned, effective December 31, 2011. His departure from GigaMedia’s board is effective immediately, however.
Hui said he intends to devote more time to his personal interests and to charitable projects. No replacement has been named, but the company said its senior officers would assume Hui’s duties and ensure a smooth transition.
He joined GigaMedia as chief financial officer in August 2004 and was promoted to president and chief operating officer in August 2007. Those were happier times for the company which currently faces delisting from NASDAQ. GigaMedia will report its third quarter 2011 financial results on Nov. 17 after the market closes.
“Thomas has had an enormous influence on GigaMedia, making strong contributions to the strategy and growth of GigaMedia for three quarters of a decade,” stated GigaMedia chief executive officer Yichin Lee. “His passion for building high-performing teams will have a lasting impact on GigaMedia, and on behalf of the company I would like to thank him for his invaluable service. We wish him the best in his future.”
“On behalf of the whole board, I would like to thank Thomas for his service and dedication in the past seven years,” stated GigaMedia chairman Michael Ding. “Thomas leaves GigaMedia with great financial resources to further develop our business, and we look forward to delivering a new era of growth and creating new value for our shareholders.”
On Monday, GigaMedia announced today that its IAHGames operation and Blizzard Entertainment Inc. have mutually agreed to terminate their distribution partnership under which IAHGames distributed certain Blizzard Entertainment game products in Southeast Asia. IAHGames, which among other projects is currently operating Leoguards (pictured) in beta, said it will redeploy its resources to increase focus on its online game operations in key markets in Southeast Asia.
GigaMedia’s statement – http://tinyurl.com/c95vfss