Take Two’s announced Ben Feder will stand down as CEO of the publisher, effective as of January 1, 2011.
Chairman Strauss Zelnick will take on the CEO role, with executive VP Karl Slatoff promoted to COO.
The reason for Feder’s leave is due to “pursue plans to travel in Asia with his family for an extended period,” although will remain in the position to “ensure an orderly transition.”
Slatoff’s role as COO was effective as of this past Monday.
“I am proud of our team for transforming Take-Two into a more profitable, more diversified and growth-oriented company,” said Feder.
“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 honor certain commitments that I have made to my family.”
“The Board of Directors and I want to thank Ben Feder for his leadership, which has been a major element in the tremendous progress of Take-Two over a period of nearly four years,” added Slatoff.
“Our success also has been a team effort, built on the strengths, talents and dedication of many professional.”