Mad Catz guitar

Mad Catz is scheduled to show off its financial reports today, but foreshadowing has already begun to loom over the announcement with several large resignations from the company.

Most notably, the company's longtime CEO and President Darren Richardson resigned from his post, as confirmed by the company's press release. He was joined by chairman Thomas Brown and Senior Vice president of Business Affairs Whitney Peterson, both of whom also vacated their seats.

Richardson has been replaced by the company's CFO, Karen McGinnis. The financial reports are scheduled to be released this afternoon.

Mad Catz had been banking on Rock Band 4 to become a hit in order to stabilize the company's financial situation. During the reign of the previous generation's iterations of Rock Band and Guitar Heroes, Mad Catz found great success through selling third-party plastic instruments.

However, the era of plastic instruments has come and gone, and it does not appear that Rock Band 4 was big enough of a hit to save Mad Catz this financial year. We'll know the extent of its situation this afternoon.