Take 2 CEO ousted by shareholders

The departure of CEO Paul Eibeler headlines a number of sweeping changes at the top of the US publisher after shareholders were successful in an attempt to instigate massive changes.

Along with Eibeler, Oliver Grace, Robert Flug and Mark Lewis were also all removed from the board of directors.

Strauss Zelnick, Ben Feder, Jon J. Moses, Michael Dornemann, Michael James Sheresky and John Levy, were all installed as board members at yesterday’s annual shareholder meeting, with Zelnick becoming the new Take 2 chairman. Former News Corp senior exec Ben Feder will become acting CEO.

“The Board is working with Paul Eibeler, former CEO and president of Take 2, to ensure an orderly and effective transition,” a statement from the publisher read.

Zelnick was involved in turning around Columbia Music Entertainment in Japan, as well as previously serving as COO at 20th Century Fox. He's also the former CEO of BMG Entertainment and developer Crystal Dynamics.
 
“Take 2 has exceptional brands and creative resources, and we are thrilled to be able to work with the many talented people within the company,” Zelnick stated. “The new Board plans to put in place strategies designed to revitalise Take 2, focus on supporting and enhancing its creative output, improve its margins and ensure that the 2007 release pipeline meets expectations.

“We are here to maximize the value of Take 2 for shareholders, for game consumers, and for the company's employees.”

Meanwhile, Take 2 studio Rockstar yesterday released the first trailer for its upcoming Grand Theft Auto IV. Confirming that the game will be set in New York, or at least a Liberty City modelled very closely on it, the game also boasts real-life day and night cycles and an Eastern European protagonist.

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Tags: Rockstar , Take 2 , 2k games , grand theft auto , feder , eibeler

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