Vrabeck resigns from Activision

Activision Publishing president Kathy Vrabeck resigned earlier this month, the company has announced, with the well-respected executive stepping down from her position as an officer of the firm effective immediately.

She will, however, remain on the companys staff roster and will continue to occupy her position until her employment contract ends on April 1st next year.

Vrabeck is a six year veteran of Activision, having joined the company in 1999, and was appointed as president of the firm's Publishing division in late 2003. One of the most senior women in the games industry, she is widely seen as being instrumental in helping to build Activision's success over the past few years.

"We were slightly surprised and disappointed that Ms. Vrabeck will be leaving the company," commented Wedbush Morgan Securities analyst Michael Pachter in a research note.

"We believe that she was a key member of management and a capable executive, and we credit her with contributing to the company's success over the last two years," he continued. "Her departure adds some uncertainty regarding the strength of the management team going forward."

However, Pachter remains confident in Activision, whose stock is rated as Buy by Wedbush Morgan. "Notwithstanding our belief that she was a key member of management, we are not concerned with the management team's ability," he explained, "and believe that Activision has sufficient bench strength to match its leading stable of marquee games and development talent."

No official reason has been given for Vrabeck's resignation as yet, but several sources have drawn a correlation between her decision to leave and the appointment of former Procter and Gamble exec Michael Griffith as CEO of Activision Publishing back in June.

At the time of his appointment, there was some speculation that Activision had passed over Vrabeck for the role, or that she might be leaving the company to make way for Griffith - both scenarios which were denied by the firm.