Management Turnover as Change Agent

Wednesday, October 21, 2009

Immersion corporation CEO Resigns and Leaves Immediately

Immersion Corporation IMMR (NASDAQ) which develops hardware and software for simulating tactile experiences — such as the feel of an object or the jolt of an explosion during a video game — in order to enhance on-screen events saw its CEO, Clent RicClent Richardsonhardson, leave today. The company has been at risk of being delisted from NASDAQ. Just the other day NASDAQ,

granted an exception to Rule 5250(c)(1) of its listing standards to enable Immersion’s Common Stock to remain listed on NASDAQ while it completes its internal investigation and restatement of itImmersion One Year Stock Performances historical financial statements.

Immersion has appointed former CEO, Victor Vegas as the interim CEO.

Keep an eye on the moves Viegas takes and who the board settles on to take the CEO position. There may be more here than meets the eye.

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