Take-Two founder steps down

Following Ryan Brant's decision to resign as chairman and director of Take-Two Interactive and become vice president of publishing, the company today announced that its board of directors has appointed Richard Roedel as its non-executive chairman. Roedel, a certified public accountant and qualified as a financial expert under federal securities laws, has been a director at the company and chairman of the audit committee since November 2002.

"Since founding Take-Two in 1993, Mr. Brant has built the company into one of the premier global interactive entertainment companies today," said Roedel. "Under his leadership, Take-Two has reached over $1 billion in revenue and market capitalization and has created some of the top-selling entertainment franchises of all time. The board of directors praises Ryan for his leadership, vision, and dedication to the company. Additionally, I am pleased to have the opportunity to work more closely with Take-Two's board of directors in my new role as chairman and remain committed to providing additional shareholder value."

"Take-Two's continued success was paramount in my decision," added Brant. "I am passionate about our business and deeply committed to the company. I believe this is the right time to make a management transition to position Take-Two for the future. My new role will allow me to focus on all aspects of our publishing and product development efforts. Our board and management are exceptionally strong and have the vision and abilities to take the company to the next level."