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Infinium Labs President Calls it Quits

by Rainier on Nov. 21, 2005 @ 9:42 a.m. PST

Infinium Labs announced today that its president and CEO Kevin Bachus has left the company to pursue other opportunities. Greg Koler has been appointed as interim CEO, president, chief financial officer and director.

"Greg Koler is a welcome addition to the Infinium Labs US operations," said Richard Angelotti, Director, Infinium Labs. " From the perspective of the U.S. and international markets, Mr. Koler's extensive corporate experience and practical knowledge in the games industry will be fundamental to our ability to successfully address the challenges we face at this pivotal juncture in our company's evolution. Greg is known and respected by his management peers for his insightful industry views and his clear, concise and candid industry operational commentary", continued Angelotti.

Infinium named Bachus, the top executive and member of the original Microsoft Xbox design team, to replace Florida native founder Timothy Roberts. Bachus was president and chief operating officer when he took over the CEO role from Timothy Roberts, who was to continue serving on the board. Bachus had been president and chief operating officer since December 2003.

Infinium is developing Phantom Game Service, which is expected to offer video games over the Internet. But the service has failed to launch despite public announcements that it would.

In May 2004, just prior to the opening of the Electronic Entertainment Expo (E3) conference in Los Angeles, the company said the service would launch in November 2004 and would be available to anyone who signed a two-year, $29.95 monthly contract with the company.

Koler, 49, brings a wealth of over 15 years of sector specific skills around broadband gaming content and interactive TV services space, first as a consultant for Softbank (R) Broadband media Europe and Japan, a games service and system provider to broadband network operators in Europe, Japan and the USA. He also served in a similar capacity for television broadcast and satellite set-top box manufacture FTA Communication Technologies, and mobile provider Vox Mobile Communications in Luxembourg.

Previously, Koler was general manager at Infomedia S.A., Luxembourg, a European subsidiary of Gemstar TV Guide International, Inc., where he was responsible for five sales business units in Europe of the US parent company. Prior to that, he was strategic sales director for TDK Recording Media Europe, a global publisher of entertainment software for consoles and PCs. Under Koler's licensing-based strategy, TDK Mediactive entered the console and PC games market and grew video game net revenue from zero to over $42 million in less than three years.

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