Eidos Founder Stephen Streater Resigns to Start New Venture

Eidos founder Stephen Streater has resigned as a director of the company to set up a new venture, according to Reuters. Streater helped found the British software group as a video compression outfit back in 1990, at age 24; it transformed into a games outfit soon after (Tomb Raider and Lara Croft are the marquee names today), and Streater was never involved in managing the games side.

He has been selling down his stake to fund the startup and now holds fewer than 80,000 shares, according to chief financial officer Jeremy Lewis. Eidos shares closed Thursday down 205 pence, about nine percent, at 21 pounds, but Lewis said the slide more likely traced to a US broker’s research note flagging a delayed game launch than to the resignation.