Shareholders 1, Take-Two 0

After their meeting this afternoon, the Take-Two shareholders who were threatening to oust CEO Paul Eibeler did just that and they’ve appointed a new Chief Executive. According to Reuters, Strauss Zelnick, former chief executive of BMG, has taken the spot as the chairman of the board and Benjamin Feder was named CEO. Zelnick has noted that there will be changes to the company but there will be no immediate downsizing. What can we expect to see from the company going forward?

“In three to six months we’re going to outline a plan,” said Zelnick. “We need to create more hits. I sense a lot of the creative talent is in place.” If Take-Two can avoid any more mishaps or shenanigans, maybe some of those other properties can break out. Of course, the only thing people are thinking about today is the release of the first trailer for Grand Theft Auto IV, the companies cash cow. Several executives were replaced today, which, along with the other changes, led to some serious after hours trading that left the stock up more than 6%.

Comments have been disabled for this post