CEO FOLLOWS CFO OUT OF EIDOS
Copyright 2000 www.tombraiderchronicles.com Source: Reuters

[ November 1st 2000 ]

Eidos Interactive have today announced that Chief Executive Charles Cornwall had left the company, three weeks after Chief Financial Officer Jeremy Lewis tendered his resignation.

In a statement released by the UK games company, Eidos announced that Chief Operating Officer Michael McGarvey will replace Cornwall effective immediately. "Charles Cornwall, the former chief executive, has asked to be released to spend more time on his technology and mining interests in the USA and South Africa and has stepped down with immediate effect,'' the statement said.

Cornwall joined Eidos, the company behind Tomb Raider of Who Want's To Be A Millionaire, in 1993, and saw it's share price reach a 10.00 high in 1999. News of his departure dented it's trading price slightly this morning, but it soon recovered to 2.86 pence by 11:20 GMT. Although currently trying to cut annual costs by £10m, Eidos has said that it eagerly awaits the arrival of Sony's Playstation 2, which it estimates will make up half of its revenue next year.