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Take-Two: CEO Feder to stand down from Board

Patrick Garratt avatar
News by Patrick Garratt Founder & Publisher (Former)
Published on

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Take-Two's just said that three members of its Board are to be replaced at shareholders' requests, including CEO Ben Feder.

Feder will, however, continue to operate as the firm's CEO.

“I want to express my gratitude to Ben, Grover and John not only for their dedicated service to Take-Two stockholders but also for their very gracious decision not to stand for re-election so that we can facilitate a change in Board composition," said chairman Strauss Zelnick.

Sounds as though there's been some serious politicking here. Carl Icahn, holder of approximately 11.3 percent of Take-Two shares, is one of the shareholders requesting the changes, and has put forward three new nominees to replace the holes left in the company's Board; including one Brett Icahn.

Full details on what sounds like an awkward deal here.

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About the Author
Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.
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