FOR IMMEDIATE RELEASE
SEASONED EXECUTIVE TO HEAD GLOBAL VR
SAN JOSE, Calif., May 4, 2005 - GLOBAL VRŽ is pleased to announce the appointment of Jim DeRose to the position of President and Chief Executive Officer. Milind Bharvirkar, founder of GLOBAL VR, will remain actively involved in future product development and continue in his role as Chairman. Mr. DeRose, a consumer products, entertainment and video game industry veteran, has an impressive 30+ year record of accomplishments in senior executive positions. He has been acknowledged for his proficiency in improving operations, facilitating turnarounds, raising capital and developing plans for accelerated growth. During his career, Mr. DeRose has served as President and CEO of PDI/DreamWorks, the computer animation studio that produced the Academy Award winning film, Shrek, President of Mattel USA and President of the Hanes Division of Sara Lee Corporation. DeRose was also president of video game maker, Acclaim Entertainment from 1995 to 1998. During his tenure, he led the development of a focused product strategy, initiated major quality and cost reduction initiatives and improved corporate earnings. "Jim is widely recognized for his outstanding leadership and business-building capabilities," says Bharvirkar. "He is experienced at growing and managing large organizations and he has a solid understanding of both the creative process and the game industry. I am pleased and proud to be working with Jim as we build GLOBAL VR into the industry leader I envision. He has my full support." When asked for a comment, DeRose states: "I believe in Milind's vision for GLOBAL VR and admire the talent and tenacity of those responsible for bringing the company to its current level of recognition. We have a strong organization, financial support from our leading investor, Calim Private Equity, LLC, and development agreements with some of the world's leading game publishers, including Electronic Arts. I am genuinely excited over our prospects for the future."
For further information please contact:
Phone: (408) 597-3400 ext: 2409
Fax: (408) 597-3431
Founded in 1998 and headquartered in San Jose, California, GLOBAL VRŽ is the world's leading manufacturer of coin-operated video games based on home gaming technology. With an exploding home gaming market, GLOBAL VRŽ is leveraging massive investment in development of home games and triggering a renaissance in the out-of-home video game industry. GLOBAL VRŽ has development agreements with the world's leading game publishers Electronic Arts Inc. (NASDAQ:ERTS), Activision (NASDAQ:ATVI) and Atari (NASDAQ:ATAR) that provide exclusive rights to create coin-op versions of popular home games such as EA SPORTS™ PGA TOURŽ Golf, EA GAMES™ Need for Speed™, Beach Head and Operation Blockade.
Back to News Releases