Take-Two CEO steps down

By Geoff Duncan Published October 29, 2010

Image used with permission by copyright holder

Strauss Zelnick is taking the reins of Grand Theft Auto, Red Dead Redemption, and BioShock game studio Take-Two Interactive as CEO Ben Feder steps down to travel with his family in Asia for “an extended period.”

“As a result of the team’s efforts, [Take-Two] today is in the strongest financial and operational condition in its history,” Feder said, in a statement. “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.”

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Strauss Zelnick is currently chairman of Take-Two’s board, and will take over the CEO position effective January 1, 2011. Feder will remain a partner in ZelnickMedia, the private equity firm run by Strauss Zelnick that controls Take-Two.

Feder become Take-Two’s CEO in 2007 as the company was struggling to recover from controversy surrounding the “Hot Coffee” patch to Grand Theft Auto: San Andreas that revealed sexually explicit content developer Rockstar had embedded in the game and not disclosed to reviewers. The financial damage from the game’s recall totaled nearly $25 million, and the company reached a settlement with the FTC and managed to avoid being fined. Zelnick and Feder also guided the company through a protracted hostile takeover attempt from gaming giant Electronic Arts in 2008 just as Grand Theft Auto IV was due to land at retailers.

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