THQ's longtime executive vice president of its core games division has left the company, along with Dave Davis, the SVP of core studios. In their roles in the core games division, both Bilson and Davis helped lead the company away from licensed titles to focus on key franchises such as Saints Row and Darksiders.
Naughty Dog co-founder Jason Rubin has been appointed as the company's new president. Rubin will be in charge of turning THQ around as it faces serious financial trouble. The company announced yesterday that it would ask shareholders at a board meeting later this month to allow for a reverse stock split. In essence the stock split would raise the share price of the company's floundering stock which has been trading well below $1 for awhile. This move is to avoid being delisted from the NASDAQ which requires that the stock be trading above $1 for ten consecutive business days.
THQ said that Rubin will help the company shift towards AAA games such as Company of Heroes 2, Metro: Last Light, and Darksiders II.