10TACLE STUDIOS AG / Change of Personnel/Restructure of Company
14.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media expert Joachim Magin replaces Michele Pes as CEO
Darmstadt, May 14, 2008 The Supervisory Board of the listed company
10TACLE STUDIOS AG resolved yesterday that media expert Joachim Magin be
appointed the new CEO of the company.
Joachim Magin possesses comprehensive management expertise which he has
gained while holding a variety of executive positions, such as managing
director of ProSieben Digital Media GmbH and head of media for Tiscali
Deutschland. As part of his brief at Tiscali, he had bundled and
restructured the company's European games activities, successfully selling
them as a package.
The company and its previous CEO, Michele Pes, have agreed to underpin the
structural changes within the 10TACLE Group by implementing the change to
the Managing Board resolved yesterday. Michele Pes, one of the founders of
10TACLE STUDIOS AG, therefore tendered his resignation yesterday. He will,
however, actively support the further restructuring of the company and
assist the company in an advisory capacity during the transitional period.
10TACLE STUDIOS AG had already announced its plans for a comprehensive
restructuring of the entire 10TACLE Group a few weeks ago. The goal is to
organize the company in a more streamlined and focused manner, making it
more transparent for market participants. To this end, 10TACLE STUDIOS AG's
consistent positioning as a development and production company is being
driven forward. In the future, the tasks of marketing and sales will be
performed by publishing partners. As previously reported, the reversal of
the acquisition of the Berlin-based publisher TGC The Games Company was
the most recent transaction implemented for this purpose. With regard to
the reorganization of the 10TACLE Group, the new Managing Board will
cooperate closely with a team of restructuring specialists.
Joachim Magin, the newly appointed CEO of 10TACLE STUDIOS AG, said: 'I'm
really excited about my new role and looking forward to bringing all my
skills to the table to get the 10TACLE Group back on track. I trust that
shareholders, business partners and staff alike will allow me to
familiarize myself with the company first before I comment on specific
issues and objectives. In any case, I am committed to communicating with
all stakeholders, reliably and transparently and in close consultation with
the Supervisory Board.'
The Supervisory Board is pleased to have gained such a highly experienced
manager for 10TACLE STUDIOS as Joachim Magin and is confident that the
company's full potential will soon become evident. At the same time, the
Supervisory Board expressly thanked the founder and previous CEO Michele
Pes for all his work over past years.
About 10TACLE STUDIOS AG
10TACLE STUDIOS AG, listed in the General Standard segment of the Frankfurt
Stock Exchange (German securities ID number (WKN): TACL10, ISIN
DE000TACL107) is an independent development and production company for
high-end computer and video games and a market leader in Europe. The
products of 10TACLE STUDIOS AG meet the highest international standards and
cover all the relevant high-growth segments of the games market. The
company operates out of its headquarters in Darmstadt and its development
sites in Berlin, Darmstadt, Duisburg, Hanover, Budapest, Charleroi, London,
Singapore and Vienna.
DGAP 14.05.2008
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Language: English
Issuer: 10TACLE STUDIOS AG
Goebelstr. 21
64293 Darmstadt
Deutschland
Phone: +49 (0)6151 39 738 21
Fax: +49 (0)6151 39 738 10
E-mail: ir@10tacle.com
Internet: www.10tacle.com
ISIN: DE000TACL107
WKN: TACL10
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-News: 10TACLE STUDIOS AG gets new CEO
| Source: EQS Group AG