Acclaim names new CEO

Struggling video game publisher Acclaim Entertainment announced Tuesday that company co-founder Gregory Fischbach has resigned as CEO. He is succeeded by Rodney Cousens, formerly chief operating officer for the company. Fischbach will remain on the company's board of directors, where he serves as co-chairman.

Acclaim has posted losses the past few quarters and seen its stock price hover below $1 a share most of this year, after several games the company expected to be major sellers failed to find an audience.