Mad Catz Chairman, CEO, General Counsel Resign A Day Before Earnings Report

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Sure, you can say that this many company executives leaving on the same day is just a "management shake-up" but, no matter how you spin it, all of them jumping ship one day before the company's earnings report can't be a good sign. :eek:

Darren Richardson, Thomas Brown, and Whitney Peterson depart Rock Band 4 co-publisher on eve of quarterly earnings release. Big changes are afoot at Mad Catz. The peripheral maker and Rock Band 4 co-publisher today announced that chairman Thomas Brown, president and CEO Darren Richardson, and senior VP of business affairs/general counsel Whitney Peterson have all resigned from the company.
 
They departed via basejumping from atop their pile of money, deployed their golden parachute, and landed on their new yacht filled with hookers and blackjack.
 
collegeboy69us said:
They departed via basejumping from atop their pile of money, deployed their golden parachute, and landed on their new yacht filled with hookers and blackjack.
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LOL!!!

Yeah, what other job can you run a company into the ground and get "fired" and walk away with millions of dollars.
 
Rat #1 & Rat #2 leaving the ship after gorging themselves and stockpiling enough cash to last them a long time...

Question really is, why wait to 1 day before everything blows up, Cathay in air they knew months in advance.
 
*they must've knew


Autocorrect out to lunch
 
Look here fella's this negative attitude has gotta go. These executives worked very hard to earn that compensation. Easily 300-400x as hard as their lowest employees.
 
Yakk said:
*they must've knew


Autocorrect out to lunch
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Proof read? Don't blame the autocorrect.

And yeah, seems like some typical FatCatz CEO type shit. Make millions, drag company to the ground, then bounce when shit hits the fan all while not getting into any trouble.

Must be nice.
 
Borrow money for stock buy back ...jackup the stock price via bullshit demand.,..jack up the executive pay, stock price collapsed, the rig is up... Jump ship..??
 
File said:
Look here fella's this negative attitude has gotta go. These executives worked very hard to earn that compensation. Easily 300-400x as hard as their lowest employees.
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:) hehe yeah , executives are in time bubble where their day is 9600 hours long to our 24 allowing them to be the 400x more productive.
 
I guess now we know why the CEO, chairman and general counsel of Mad Catz all jumped ship yesterday. It sounds like it might have been a "quit before you are fired" situation. :eek:

At this time last year, Mad Catz reported $809,000 in losses. That number is now $4.36 million. The company attributes the shortfalls to Rock Band 4 sell-through, which was lower than forecast. This has led to both softer than anticipated revenue and higher than expected inventory carrying costs.
 
In other news, Mad Catz is still around making stuff to begin with to have people to fire.

hardcase said:
It's still got 28 cents to go until it hits zero...
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That just means you can now own 1/2 the company for $25 :)
 
I enjoyed the rat 7, or was it 9, but they were not durable. I had the side buttons break too often.
 
Cheap, low quality, and gimmicky, is primarily how I would describe MadCatz products. They had their place in the market though. Most of their stuff was, just good enough, that you would buy it, and just cheap enough that you didn't care that it was not going to last that long.

Ever want to give these guys with golden parachutes a pair of concrete shoes? Let them know how the rest of their stockholders feels for a change.
 
My RAT 7 broke the left mouse button after 700 hours in Infinite Crisis MOBA ( on top of several years of gaming ).

All I do is play video games 24/7 so they were plenty durable. I bought the RAT TE ( tournament edition ).
 
I stopped buying things from them 20 years ago, I'm not unhappy with that choice.
 
Mad Catz *used* to make steaming piles of shit, but much of that changed a few years ago.
The fight sticks and pads they have been making in the modern era are among the best (readily) available.
Based on the posts here, clearly they never totally got past their old reputation.
 
I'd say they're only the best, cause they're damn near the only aftermarket manufacturer of sticks and pads. I personally wouldn't touched their game pads, but they do make nice fight sticks. So long as you get the ones with Sanwa stick and buttons. I'm good with the gamepad that comes with my console and I'm not that much into fighting games, so I'll probably never buy Mad Catz.

I do want a DJ Dao Beatmania controller though.
 
File said:
Look here fella's this negative attitude has gotta go. These executives worked very hard to earn that compensation. Easily 300-400x as hard as their lowest employees.
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While they may not work "300-400x" as hard, they are responsible for the entire company, which is more than 400x the responsibility of the lowest employee.
 
why are these people not routinely thrown in prison for this kind of crap. Company goes to ruin and all the responsible parties jump shit with fat bonuses. Coincidence?
 
They still exist? The last product I had from them was a total POS. I'd never buy from them again.
 
Uvaman2 said:
:) hehe yeah , executives are in time bubble where their day is 9600 hours long to our 24 allowing them to be the 400x more productive.
Click to expand...

Yes, don't forget...they are also job creators meaning they get to take credit for all the productivity from all the jobs they create.
 
The CFO was also in line to be fired, however unlike her colleagues, she succesfully entered up up down down left right left right B A B A start on a first party controller.
 
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