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Exhibit 99.1
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ACCLAIM ENTERTAINMENT
APPOINTS GERARD F. AGOGLIA CHIEF FINANCIAL OFFICER
GLEN COVE, NY (AUGUST 15, 2000) - Acclaim Entertainment, Inc. (Nasdaq: AKLM), a
developer, publisher and mass marketer of interactive entertainment, today
announced the appointment of Gerard F. Agoglia as the Company's Chief Financial
Officer. Mr. Agoglia will be responsible for the financial management of the
Company, including financial strategic planning. He will report to Gregory
Fischbach and Jim Scoroposki, Co-Chairmen of Acclaim Entertainment.
Mr. Agoglia brings to Acclaim over 20 years of corporate financial management
experience in the apparel and accessories industries. His background includes
securing public and private financing, overseeing mergers and acquisitions and
implementing cost-management initiatives.
"We are pleased to welcome Mr. Agoglia to Acclaim," said Gregory Fischbach,
Chief Executive Officer of Acclaim Entertainment. "Gerry's broad experience and
financial expertise will be invaluable to Acclaim as we position ourselves to
meet the challenges that lie ahead during this industry-wide transition period.
Gerry's credentials are highly impressive and we are confident that he will play
a significant role in securing Acclaim's position as a leading interactive
entertainment company."
Prior to joining Acclaim, Mr. Agoglia worked for the Lantis Eyewear Corporation,
an international eyewear designer and distributor, where he held the position of
Senior Vice President, Chief Financial Officer. At Lantis, Mr. Agoglia was
responsible for strategic initiatives, which included several successful
acquisitions.
Prior to that, Mr. Agoglia served as the Vice President, Corporate Controller
for Calvin Klein, Inc., an international apparel and accessory designer, where
he implemented strategic budgeting initiatives in addition to developing
resource and financial planning systems.
Earlier in his career, Mr. Agoglia was responsible for investor and shareholder
relations, treasury operations, and forecasting and analysis at the menswear
manufacturer Baxter International, Inc where he served as Chief Financial
Officer and Chief Operating Officer. Previously he held the position of
Assistant Corporate Controller with Crystal Brands Inc. after their spin-off
from General Mills, with responsibility for the management of acquisition
accounting, SEC and managerial reporting.
Mr. Agoglia started his career at Touche Ross & Co. in New York. He earned his
MBA in Finance at St. John's University in New York and his BA at Fairfield
University in Fairfield, Connecticut. He is a member of the AICPA in New York
and Connecticut.
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ACCLAIM ENTERTAINMENT BACKGROUND INFORMATION
Acclaim Entertainment, Inc. is a worldwide developer, publisher and mass
marketer of software for use with interactive entertainment platforms including
Nintendo, Sony Computer Entertainment and Sega hardware systems, and PCs.
Acclaim owns and operates five studios located in the United States and the
United Kingdom, and publishes and distributes its software directly in North
America, the United Kingdom, Germany, France, Spain and Australia. Acclaim also
distributes entertainment software for other publishers worldwide, and publishes
comic books and software strategy guides. Acclaim's headquarters are in Glen
Cove, New York and trades on the NASDAQ SmallCap market under the symbol AKLM.
For more information please visit our website at www.acclaim.com.
