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SCi is best known for the hugely successful Lara Croft games series, originally developed by Eidos which was later acquired by SCi. The game's success led to it being turned into blockbuster "Tomb Raider" films starring Angelina "Mrs Brad Pitt" Jolie.

Other successful SCi games include "Kane and Lynch", "Pony Friends" and "Hitman: Blood Money". Its publishing label Eidos has publishing operations across Europe and the US and a number of high quality development studios including Crystal Dynamics, Io Interactive, Beautiful Game Studios, Eidos Studios Hungary, Eidos Studios Sweden, Pivotal Games and Eidos Montreal. 

Shares in the firm traded at 524p in July 2007, but had fallen to just 48.5p on 15 January amid takeover rumours and profit warnings. 

Last week the firm announced that it had decided to move the release date of four titles into the fourth quarter of 2008. The most significant of these titles is the next Tomb Raider game, Tomb Raider: Underworld, which is now scheduled to launch on six platforms (PC, PS3, Xbox 360, NDS, Wii and PS2) simultaneously during the Christmas season as opposed to the previously planned three platforms (PC, PS3 and Xbox 360) in June.

As a result of these changes the board said it expected that the company would make an operating loss in fiscal year 2008.

On Friday SCi said that the firm's founder Jane Cavanagh, her husband Bill Ennis and Rob Murphy had stepped down from their respective positions as CEO, managing director, publishing and managing director, studios and would leave the company with immediate effect.

Business review 

Phil Rogers, who joined the group in March 2007 as corporate development director from Electronic Arts, subsequently becoming group CFO in September of last year, has been appointed as chief executive with immediate effect.

SCi said that Malcolm Dunne will take over as interim CFO but will not join the board. He is currently CFO of the group’s US publishing business. The board said it will look internally and externally to fill this position permanently.

Rogers is leading the business review with the full support of the board and a small team of senior managers from within the business.

In parallel with this review, as was stated in the firm’s trading update of 9 January 2008, the decision to make changes to the platform and release schedule has required the company to reassess its working capital needs. 

The company said it has received proposals from potential partners, however, the board continues to examine all funding opportunities which it will determine in due course. 

Pool of talent 

It is the Board’s intention to report back to shareholders with the findings of its review and update on its financing discussions by the end of February with its Interim Results for the six months ended 31st December 2007.

SCi (LSE:SEG) Chairman Tim Ryan said that there was “a tremendous pool of talent” in the business and some “wonderful” intellectual property which was globally renowned.

He added that the market for games and gaming was strong and growing with huge opportunities worldwide as new platforms and technologies blossom.

Rogers joined SCi in March 2007 as corporate development director where his key responsibilities were to identify strategic areas for development and assessing market opportunities.

He was vice president, corporate development at Electronic Arts Inc. for three years, working at its US headquarter and UK sites, on the identification, execution and integration of business acquisitions.

Rogers is a chartered accountant who spent nine years with Ernst & Young LLP in their assurance and advisory practice groups, was chief executive of MathEngine PLC, a physics simulation business.

He was also chief financial officer of Criterion Software, a provider of middleware products and services to the worldwide video games industry until 2004, when it was acquired by Electronic Arts.

Dunne is a chartered accountant with ten years industry experience covering three continents. He joined Electronic Arts in South Africa in 1998 for two years before moving to Europe in 2000.

He joined Capcom in 2001 where he was European finance director overseeing all finances and operations for the company in Europe and was instrumental in establishing Capcom’s European presence and was also a director of Capcom Germany.

He joined Eidos in 2004 as group financial controller before relocating to the US where he has since being CFO of Eidos’ biggest publishing operation.

Related links

• SCi Entertainment Group plc