Titus nominees to replace resigning Interplay board members
One week ahead of AGM
Troubled American publisher Interplay has announced a "change of board composition" and future restructuring plans, with confirmation that French company Titus (which now owns 51 per cent of Interplay's stock) has nominated "a slate of individuals for election as directors at Interplay's annual meeting of stockholders".
Following negotiations with the French company, three of Interplay's seven directors have resigned and been replaced by Titus appointees, leaving just chairman Brian Fargo and one other Interplay member on the board of directors in the run-up to next week's Annual General Meeting.
It seems likely that they too will be departing the company once Titus take control next week, bringing an end to an acrimonious hostile takeover that has seen some truly bizarre behaviour from both sides. ®
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