Take-Two investors toss out most board incumbents

first_imgEibeler was replaced by Ben Feder, formerly a senior executive at News Corp., the global media conglomerate controlled by Rupert Murdoch. Feder was named acting CEO, and Take-Two said the new directors plan to work closely with Eibeler to ensure an orderly executive transition. As expected, board member John Levy survived the purge. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SAN FRANCISCO – Investors at video game publisher Take-Two Interactive Software Inc. ousted five of the six board members up for re-election Thursday, including the chief executive, who was booted from the boardroom and the executive suite. After years of management gaffes and embarrassing marketing stunts, frustrated shareholders said a boardroom shake-up was the only way to correct the accounting and ethical lapses of Take-Two, publisher of the popular video game “Grand Theft Auto” in which players murder their way to victory. Take-Two reported the official vote tally Thursday night, and the votes came in as expected, with Strauss Zelnick, former CEO of BMG Entertainment, which became part of Sony Corp. in 2004, named nonexecutive chairman. The upheaval claimed the jobs of Paul Eibeler, who lost his bid for re-election to the board and was immediately removed by the new slate of directors as Take-Two’s president and CEO. last_img read more