Acclaim President Steps Aside

Greg Fishbach, co-founder and longtime CEO of struggling video game publisher Acclaim Entertainment, has resigned and will be replaced by Rodney Cousens. Fishbach, who helped start Acclaim in 1987, will remain the company’s co-chairman.

The past year has been a challenging one for Acclaim with a series of under-performing games that pushed its share prices down more than 80% after three money-losing quarters. Shares rose 9%, or 7′, to 85′ per share on Nasdaq after the announcement.