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After failing to find a suitable buyer for the company, Take-Two Interactive went ahead with its annual shareholders meeting today which ultimately saw investors ousting former CEO Paul Eibeler and voting in six new directors to sit on the board.
Three board members were targeted for removal, according to Bloomberg. Current CFO Karl Winters will remain at Take-Two for the time being, despite conjecture to the contrary.
Plagued by an stock option backdating scandal and five quarters of losses, shareholders voted to put Strauss Zelnick in the position of chairman and Benjamin Feder in the position of chief executive officer.
News of the shareholder takeover come just hours after the public premiere of Grand Theft Auto IV, Take-Two's most profitable franchise.
More details on the top level changes at Take-Two are available at Bloomberg.
Take-Two Dissidents Win Control, Install New Chief [Bloomberg]
