Chris Deering Joins Codemasters
Industry Grandaddy does little for huge pile of cash.
Codemasters announced today that former SCEE Bossman and games industry legend Chris Deering has joined the company's Board of Management as non-executive Chairman.
According our source at Codies, Chris' appointment is not just ‘a paper’. We are told that he will play an active role in the growth strategy for the company. Unlike most non-exec Chairmen that is, who deign to add their name to a company’s list of directors, merely to add value to its shares. It will certainly be interesting to see what Deering brings to the table at Codies. Whatever it is, it's certainly a shrewd move by both parties.
After a long and distinguished career at PlayStation, Deering retired from Sony in December 2005. Deering was President of Sony Europe, Consumer Electronics Division, (2004-2005) as well as Chairman and CEO of Sony Computer Entertainment Europe, positions he held between 2004-2005 and 1995-2005 respectively. He is widely recognised as being responsible for successfully establishing the PlayStation brand in Europe.
The Britsoft publisher also announced, perhaps more interestingly, that Benchmark Capital Europe, has increased its investment in Codemasters from its previous 40% stake (acquired in April 2005) and is now the majority shareholder in the company, owning 70% of the total shares.
Rod Cousens, Codemasters' Chief Executive Officer has also just acquired a 1.5% stake in the company, although this pales into insignificance when compared to the news about Benchmark Capital Europe becoming majority shareholders.
Commenting on the news, Cousens said: "We are very excited about the company's current momentum and delighted to welcome Chris, a pioneer in the gaming industry. He is worldly, understands global markets and has made PlayStation a major entertainment brand. His combination of intellect, business savvy, understanding of technology, and breadth of experience will be hugely valuable as Codemasters continues its strategy of portfolio and international growth."
Deering, who won the Interactive Industry Award from BAFTA (British Association of Film and Television Arts) and has recently been elected Chairman of the Edinburgh Interactive Entertainment Festival, had the following to say about his new appointment: "Over the past 20 years, I have been impressed with Codemasters' excellence in game development and skilful marketing in the PlayStation market and overall gaming space. The company's heritage and the reputation it carries makes this a thoroughly exciting prospect and I look forward to contributing to its future success."
According our source at Codies, Chris' appointment is not just ‘a paper’. We are told that he will play an active role in the growth strategy for the company. Unlike most non-exec Chairmen that is, who deign to add their name to a company’s list of directors, merely to add value to its shares. It will certainly be interesting to see what Deering brings to the table at Codies. Whatever it is, it's certainly a shrewd move by both parties.
After a long and distinguished career at PlayStation, Deering retired from Sony in December 2005. Deering was President of Sony Europe, Consumer Electronics Division, (2004-2005) as well as Chairman and CEO of Sony Computer Entertainment Europe, positions he held between 2004-2005 and 1995-2005 respectively. He is widely recognised as being responsible for successfully establishing the PlayStation brand in Europe.
The Britsoft publisher also announced, perhaps more interestingly, that Benchmark Capital Europe, has increased its investment in Codemasters from its previous 40% stake (acquired in April 2005) and is now the majority shareholder in the company, owning 70% of the total shares.
Rod Cousens, Codemasters' Chief Executive Officer has also just acquired a 1.5% stake in the company, although this pales into insignificance when compared to the news about Benchmark Capital Europe becoming majority shareholders.
Commenting on the news, Cousens said: "We are very excited about the company's current momentum and delighted to welcome Chris, a pioneer in the gaming industry. He is worldly, understands global markets and has made PlayStation a major entertainment brand. His combination of intellect, business savvy, understanding of technology, and breadth of experience will be hugely valuable as Codemasters continues its strategy of portfolio and international growth."
Deering, who won the Interactive Industry Award from BAFTA (British Association of Film and Television Arts) and has recently been elected Chairman of the Edinburgh Interactive Entertainment Festival, had the following to say about his new appointment: "Over the past 20 years, I have been impressed with Codemasters' excellence in game development and skilful marketing in the PlayStation market and overall gaming space. The company's heritage and the reputation it carries makes this a thoroughly exciting prospect and I look forward to contributing to its future success."