News

By: Joe Topolnisky Mar 30, 2007

Take-Two Announces New Board of Directors

The deed is done! Take-Two Interactive's annual stockholders meeting was held today after being delayed back on March 19th. With plans to explore their options (including a possible sale of the company), the delay came amongst rumors that a new Board of Directors would be elected during this meeting. And as expected, this is exactly what happened. Taking over as the new chairman is Strauss Zelnick. The man's resume is a lengthy one and includes the titles of former President and CEO of BMG and Crystal Dynamics, former President and COO of 20th Century Fox and the founder of ZelnickMedia. Other changes to the Board of Directors were announced in this press release and are as follows:

In addition to Mr. Zelnick, the following individuals joined the Take-Two Board:

Ben Feder, a partner of ZelnickMedia since 2001. Mr. Feder served previously as a senior executive at News Corp. He currently serves on the Board of Directors of Columbia Music Entertainment, traded on the Tokyo Stock Exchange. Mr. Feder has been named acting CEO, reporting to Mr. Zelnick. The Board is working with Paul Eibeler, former CEO and President of Take-Two, to ensure an orderly and effective transition.
Jon J. Moses, CEO of UGO Networks, an online network of game sites. Mr. Moses previously served as the president of BMG Interactive.
Michael Dornemann, an entertainment and marketing executive with more than 30 years of corporate development, strategic advisory, advertising and media experience. Previously, Mr. Dornemann was an executive board member of Bertelsmann AG for 16 years and CEO of BMG Entertainment. As CEO, Mr. Dornemann was responsible for the oversight of BMG's music, television and games operations in 56 countries.
Michael James Sheresky, a senior vice president in the Motion Picture Department at the William Morris Agency. Sheresky focuses on representing major clients and developing business opportunities across the broad spectrum of the entertainment industry. * John Levy and Grover C. Brown, incumbent, independent directors of Take-Two.

That's quite the shake-up! It'll be interesting to see if these changes can help clear up some of their current problems and improve the company's reputation. I would assume that's what they're hoping for atleast. Good luck to them!