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Immersion Corporation (IMMR) announced yesterday that Clent Richardson has resigned, effective immediately, as CEO and a member of the Immersion Board of Directors to pursue other interests.
The Board appointed Victor Viegas, a member of Immersion's Board of Directors and former CEO of Immersion, to serve as interim CEO.
Mr. Viegas explained in a conference call last night, "The Board has asked me to step in to help focus the Company on its core revenue strengths, with a heavy emphasis on cost costrols, to reach profitability as soon as possible."
He added, "We have some challenges that include improving operating results, an ongoing financial investigation and deliquency in our SEC filings. The Board and I are keenly aware of these challenges. We are committed to remedy them as soon as possible. I know that the current situation has been frustrating for our investors, and I look forward to clearing up Immersion's issues expeditiously."
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