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Sammy Studios Appoints New C.F.O

by Rainier on March 5, 2003 @ 10:10 a.m. PST

Sammy Studios Inc. today announced that Rick Olafsson has been appointed to the position of chief financial officer. Rick comes to Sammy Studios after having served financial management positions in high-tech and interactive entertainment at such companies as Mattel Inc., eParties.com, and most recently TheBrain Technologies Corporation.

“Rick is a phenomenal addition to Sammy Studios, filling a crucial role as we become a prolific video game publisher and developer,” said John Rowe, president of Sammy Studios. “He has managed finance for global companies and created and implemented financial operations for high-tech entrepreneurial enterprises. His expertise is perfectly suited to our growing company’s needs.”

At TheBrain Technologies Corp., Rick served as vice president of accounting, administration and treasury, directing all financial operations for the enterprise-level software developer. He was also instrumental in securing venture capital for the privately funded company. Prior to that, Rick was director of finance and operations for the Internet start-up eParties.com. As their number two employee, he played a key role in developing and implementing the company’s financial model and helping make the venture fully operational in just six months. Before eParties.com, Rick held a number of financial positions for Mattel Inc., including serving overseas as controller for the company’s emerging markets division. After returning to the U.S., he became finance manager and controller for the interactive entertainment division, managing budgeting for the entire unit’s product and business development. There, Rick was a key member of the team that set the groundwork for a line of PC-enhanced smart toys co-developed by Mattel and Intel.

“This is a great time to be joining Sammy Studios, which continues to significantly grow its size and scope of operations,” said Rick. “This company has a tremendous future as a powerhouse player in the video game industry, and I look forward to applying my background to help ensure that we reach that status.”

Rick has also served finance positions at The Walt Disney Company, AEW Capital Management and T. Rowe Price Associates. He holds an MBA from the Anderson Graduate School of Management at the University of California, Los Angeles, and received his BS in Business Administration from San Diego State University.

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