Shiny Entertainment CEO Steps Down

The founder and president of Shiny Entertainment, Dave Perry, has voluntarily stepped down from his position and resigned, according to a story first reported by the OCRegister last week. Shiny Entertainment is best known for its production of the Earthworm Jim games. Many Sega Genesis game fans have fond memories of the humorous, shape-changing worm and his action-adventures. The reason for Perry™s sudden exit from his company has to do with legal constraints that prevent any employee of the firm from assisting in the buyout of the company. To get around this legal hurdle, Perry has taken the loophole of quiting, which effectively makes him a non-employee of Shiny, which allows him to shop Shiny around. Perry stated, “Atari can go ahead and sell Shiny but I think I can help too because I’m on the board of a lot of things. I can bring a lot of parties to the table and I can do that faster if I hit the streets myself. If I’m an employee of Atari, then I’d be stepping all over them. This way, I’m representing a buyer. I can act swiftly and get buyers on the table. I pitched Shiny last time and got $47 million. In 2002, Perry was able to sell Shiny Entertainment to Atari. In the meanwhile, Atari is fighting for its fiscal life. Third quarter business reports show Atari as having lost one-third of its revenues compared to the same time period of last year. Whether Earthworm Jim can once again come to rescue is something that Dave Perry wouldn’t mind seeing one more time.