Take-Two Interactive’s CEO steps down


29 Oct 2010

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The CEO of Take-Two Interactive, the company that published and developed the Grand Theft Auto series, Ben Feder has stepped down in order to travel to Asia with his family.

Strauss Zelnick, Take-Two’s chairman, will take on the role of CEO along with his chairman position. Karl Slatoff, an executive vice-president of Take-Two, will be placed in the newly created role of chief operating officer.

The transition will be effective as of January 2011. Feder will still work with Take-Two to help with the transition.

"I am proud of our team for transforming Take-Two into a more profitable, more diversified and growth-oriented company," Feder said.

"As a result of the team’s efforts, the company today is in the strongest financial and operational condition in its history.

“Now that the company is in a position of strength and is poised for solid performance in the future, the time is right for me to honour certain commitments that I have made to my family," he said.

The news came after Take-Two decided to change its fiscal year to end on March 31 instead of October 31, in order to align these reports with the seasonality of the industry.

The company has had many gaming successes in the past, with the Grand Theft Auto series, Bioshock and Red Dead Redemption.