3dfx Interactive Inc, the San Jose-based provider of 3D graphics chips and related software, said last week that president and CEO Gregory Ballard has resigned effective October 31. Ballard, who will head a committee to find a new CEO, said he felt the challenges that lie ahead for the company will be more technical than strategic and that the company would benefit from the fresh perspective that a new CEO can bring. The search for his successor has already begun, the company said.
The company has posted losses over its past six quarters and is expected to report losses of $0.33 and $0.34 per share, respectively for its next two. Still, in the three years Ballard has been at the helm, 3dfx has seen its sales grow from almost nothing to an annualized rate more than $400m. The outgoing CEO said he looks forward to watching the company’s progress as an investor. á
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