Viacom’s Shari Redstone takes chairwoman seat at Midway

2008 is a new year for all – even in the games industry. It seems Midway also joined in the New Year’s corporate shakeups of other gaming corporate notables, including Activision Blizzard, all which began flowing in since last November. Long time serving Chairman of the Board, Kenneth D. Cron, finally stepped down from his seat at Midway and was immediately replaced by vice chair Shari Redstone. More at the full story.

The business sphere rolled on at full tilt before the Yuletide season’s prominent celebrations set in, and at December 21 back in not-so-old 2007, Midway’s Kenneth D. Cron stepped down as chairman of the Chicago-based games publisher and developer company. At the same day, Shari E. Redstone, vice-chairwoman of Viacom and CBS Corporation, took his place.

Though the shift was made during the holidays, the decision to promote Redstone was no surprise however, since Shari was the daughter of Viacom and CBS Corporation’s current owner Sumner Redstone – also Midway’s largest shareholder. Shari was also vice-chair of Midway Games‘ board, while also a member of the Compensation Committee and the chair of the Nominating and Corporate Governance Committee.

In an official parting statement, Cron stated that his resignation as chairman of the board at Midway was due to “other significant business and family commitments,” though he firmly believes Midway will continue to grow and “build [its] future successfully.”

Via Game Daily