|[February 13, 2014]
Nexon Names Owen Mahoney President and Chief Executive Officer-Elect
TOKYO --(Business Wire)--
NEXON Co., LTD. ("Nexon") (3569.TO), a worldwide leader in free-to-play
online games, today announced that its Board of Directors has
unanimously appointed Owen Mahoney as the Company's President and Chief
Executive Officer-elect, effective following Nexon's Annual General
Meeting of Shareholders on March 25, 2014. Mr. Mahoney, who currently
serves as Nexon's Chief Financial Officer and Chief Administrative
Officer, will succeed Seungwoo Choi, who has decided to retire and will
assume the advisory role of Honorary Chairman. Both Mr. Choi and Mr.
Mahoney will continue to serve in their current roles until the general
Under Mr. Choi's leadership, Nexon grew from a small, privately-held
company into a publicly traded, multinational industry leader with
revenue of over $1.5 billion in 2013.
"I am proud of the Company we have built and honored to have led such a
talented team of over 4,500 employees around the world. Together, we
have expanded our portfolio of titles to offer nearly 60 online games in
more than 100 countries and have strong momentum for continued success,"
said Mr. Choi. "Owen is a talented leader with an established track
record and - importantly - a deep understanding of the Nexon team and
culture. I look forward to continuing to work with the management team
and Board of Directors to capture the market opportunity ahead."
Mr. Mahoney will bring over 15 years of global experience in the games
industry nd substantial strategic, financial and operational expertise
to his new position. He has served as Nexon's Chief Financial Officer
and Chief Administrative Officer since 2010, where he is responsible for
managing the Company's finances, global operations, investments and
strategic alliances. Under his leadership, Nexon has increased its
annual revenues by 123%, successfully completed its $1.2 billion initial
public offering on the Tokyo Stock Exchange, and formed new strategic
partnerships with high-profile developers and publishers around the
world, including four in the fast-growing Western market. Prior to
Nexon, Mr. Mahoney was Senior Vice President of Corporate Development at
Electronic Arts from 2000 to 2009, where he was responsible for
worldwide mergers and acquisitions and business development, and led all
acquisitions and equity investments.
"I am delighted and honored to have the opportunity to lead this
outstanding company," said Mr. Mahoney. "As the pioneer of the
free-to-play model, Nexon is uniquely positioned to take advantage of
the continuing worldwide platform transition towards synchronous online
game play and free-to-play monetization. We will continue to build on
our success by focusing even more sharply on a smaller number of
high-quality titles and development efforts; attracting and supporting
leading industry talent; and leveraging our accumulated expertise and
track record of successful partnerships with leading talent around the
world looking to transition to free-to-play. I look forward to our
bright future ahead."
In conjunction with the CEO transition, Shiro Uemura, presently general
manager of the Accounting and Finance Department, will replace Mahoney
as Chief Financial Officer. Koji Abe, General Counsel, will assume the
additional role of Chief Administrative Officer.
About NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. ("Nexon") (3659.TO) is a worldwide leader in
free-to-play online games. Founded in Korea in 1994, Nexon developed one
of the world's first graphics-based massively multiplayer online games.
Nexon also pioneered the concept of microtransactions and the
free-to-play business model, setting a new standard in which play is
free, and users have the option to purchase in-game items to enhance
their experience. Nexon currently services nearly 60 online games in
more than 100 countries and since its founding, Nexon has generated more
than 1.4 billion player registrations. The Company is headquartered in
Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.
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