John Textor has resigned as Digital Domain's CEO and chairman of the board. Ed Ulrich longtime executive of the company will be the new CEO as part of a strategic changes which includes shutting down the company's headquarters in port.st.Lucie. The closure does not affect the studios in california and vancouver.
As the company is in deep financial troubles, this move will enable it to focus on resources on Digital Visual Effects and CG Animation.
Digital Domain's troubles began in mid august. It has lost about 90% of its market value since the begging of 2012. Its stock is down nearly 34% to 65 cents a share.
As the company is in deep financial troubles, this move will enable it to focus on resources on Digital Visual Effects and CG Animation.
Digital Domain's troubles began in mid august. It has lost about 90% of its market value since the begging of 2012. Its stock is down nearly 34% to 65 cents a share.
