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CryptoLogic CEO out as losses keep mounting

12th August 2010 8:18 am GMT

CryptoLogic CEO Brian Hadfield is leaving the company after reporting second quarter results Thursday which showed a continuing decline in revenues and mounting losses, with chairman David Gavagan stepping in as interim CEO to oversee further restructuring and a reduction of the company's workforce.

Total revenues for the second quarter ended June 30th fell by 30 per cent year-on-year (12 per cent quarter-on-quarter) to US$6.7m as a result of continued poor trading and a change in [...]

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