Atari recently announced the creation of two divisions in the company: Atari Gaming and Atari Blockchain. Also, the organization revealed that Wade J. Rosen, the former Chairman of the Board of Directors of Atari, will become the business’s new Chief Executive Officer.
“I’m honored to be a steward of something as iconic and legendary as Atari. I would also like to thank Fred Chesnais for turning around the company, which is now well-positioned for such incredible long-term success,” said Wade J. Rosen, Chairman of the Board of Directors of Atari, S.A. “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.”
The Gaming Division of Atari will include all assets not featured in the Blockchain Division. It will be focused on gaming and expanding the market of retro gaming. Financially, Atari will prioritize incremental long-term growth and sustainable cash flow.
All products and services related to the Blockchain business will be grouped into a division of Atari. Given the launch of the Atari Token, the task of this division will be the continued development of the cryptocurrency through further use cases and integration into the Atari ecosystem. Atari will also continue to evaluate opportunities in blockchain gaming, NFTs, and blockchain-based online worlds.
(All information was provided by Globe Newswire)