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Eidos' board resigns

SCi takes control.

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Image credit: Eurogamer

The entire board of British publisher Eidos has resigned with immediate effect, and are being replaced with SCi's senior executives in the wake of the announcement that SCi's acquisition bid had become unconditional earlier this week.

SCi CEO Jane Kavanagh, along with Bill Ennis and Rob Murphy, have all been appointed as directors and will form the new board of the company, also with immediate effect.

The departing directors include chairman John van Kuffeler, CEO Mike McGarvey, CFO Stuart Cruickshank, European managing director Jonathan Kemp and creative director Ian Livingstone.

However, SCi has denied rumours that it intends to remove many of Eidos' senior management team in the coming days, with a spokesman telling that "it is definitely not our intention to 'remove many of the company's senior management in the coming days' as reported."

"The recent announcement regarding the board was part of the acquisition process," he explained, "whereby the board of Eidos has resigned and has been replaced by the board of SCi."

The news follows the announcement on Monday that SCi's bid to acquire Eidos had become unconditional, having received approval from the shareholders of both companies and met - or waived - all of the conditions to the offer.

SCi is in the process of raising around UKP 60 million through the placement of new shares, which will be used to fund the costs of merging and the operations of the new merged company.

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