The Farrell file Featured

10:32am EDT August 24, 2005
Age: 51

Birthplace: Santa Monica

College: Undergraduate degree, Stanford; MBA, UCLA

Residence: Thousand Oaks

Career moves: Prior to joining THQ, he was vice president and chief financial officer of Hotel Investors Trust, a New York Stock Exchange-listed company. Prior to that, he was employed by Deloitte & Touche LLP.

Service: Chairman, Harold Price Center for Entrepreneurial Studies Board of Advisors at UCLA; board member, Alliance for the Arts, a community cultural arts center

What’s the most important lesson you’ve learned?

Failure is never fatal, and success is never final. Mistakes or small failures happen, and when you have success, there is no such thing as reaching success. It’s an elusive goal. Don’t pat yourself on the back.

What was the greatest business challenge you’ve faced?

Our toughest challenge was in 1998. We were having great success with our wrestling license (with WCW). But a competitor outbid us for the renewal of the contract. Our stock went down, and people said THQ is going to struggle. Then we went out and signed WWE. Turned out to be a good move.

Whom do you admire most in business and why?

I always admired my father. He was a partner in Price Waterhouse. He was a very successful CPA. He taught me that you should have strong ethics and treat people the right way.