Graphics chips firm, 3dfx, announced today that its chief executive officer, Gregory Ballard, is to resign at the end of October. The company will launch an immediate search for a successor.
"The challenges in this next phase of the company's growth will be more technical than marketing and strategic, and...3dfx can benefit from the fresh perspective that a new CEO can bring," Ballard said in a statement.
Ballard worked three years at the company, during which 3dfx emerged as a leading provider of graphics accelerator chips, boards and software used in personal computers. The company saw revenues climb from virtually zero to just more than US$100 million in the latest quarter.
At the same time, the company has been battling fiercely with rivals and Nvidia, and struggled to meet earnings expectations in recent quarters. In its most recent quarter, ended July 31, the company reported a net loss of $11.6 million, or 50 cents per share.