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Issue Date: Vol. 43, No. 4 / April 25, 2003 - May 24, 2003 , Posted On: 5/2/2003

Stone, Ivy, Uehara To Exit Sega Amusements; Barbara Joyiens To Assume Command As Executive Vice-President

SAN FRANCISCO -- (Posted May 2) Sega Amusements U.S.A. co-presidents Al Stone and Howell Ivy, along with Sega of Japan vice-president Takeshi Uehara, will exit Sega Amusements U.S.A. Inc. on Friday, May 9. Promoted to executive vice-president and heading the management team for Sega Amusements will be Barbara Joyiens, who currently holds the post of vice-president of sales and marketing. Remaining in place among the top leadership are CFO Bob Giovannettone and manager of new business Takashi Inoue, who serves as liaison to corporate headquarters in Tokyo. Stone and Ivy today confirmed their departure, which they described as friendly, to VT following a mid-afternoon announcement to Sega staff. Both men said their exit does not imply that Sega Corp., the Japanese parent of the U.S. unit, is leaning toward accepting a merger bid with any one of the company's suitors, which include Sammy Corp., Namco, Microsoft and Electronic Arts.

"My 10 years with Sega have been the most pleasurable of my career," Stone told VT. "I have had the privilege of working with the best group of people in my experience and I'm pleased that many of them will remain here guiding Sega following our departure. Our customers and friends will find it a seamless transition and I know Barbara, Bob and Inoue-san will do a superb job. The company will continue to focus on its core business of building great games."

Ivy, a 16-year Sega veteran and the company's president of manufacturing and deputy COO, echoed these sentiments. "This is a new chapter for us and for Sega," he said. "We are proud of having changed the industry during our tenure at Sega by introducing new technologies, new business models and a series of great games."

Stone and Ivy said they had no immediate business plans. "I'm going to take a couple of weeks of personal downtime," Stone said. Both men asserted that their interest in the amusements industry remains strong and they intend to remain active. Joyiens was unavailable for comment for this electronic bulletin. VT will provide further information as it becomes available.

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