PS1 News: Take-Two Founder Resigns - PS1 News

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Take-Two Founder Resigns

Take-Two Interactive, publisher of the well-known Grand Theft Auto franchise, has announced that its founder and former CEO, Ryan Brant, has resigned. He leaves amidst a whirlwind of controversy generated over the past couple of years, although he's actually been away from Take-Two since last June on disability leave (reportedly due to a bad back).

Founded in 1993, the company has published a slew of highly controversial games, up to and including their most recent title, Bully. However, controversy unfortunately reached Take-Two itself, as they've been embroiled in several financial investigations, both internally and from the Securities Exchange Commission (SEC). SEC concluded that Take-Two had, in fact, artificially inflated its profits, and the company was forced to pay $7.5 million to bring the ordeal to a close. Brant served as CEO from '93 to February of '01, and then he was chairman until March 2004. But ever since then, he's been relegated to a non-executive capacity as Vice President of Production.

Fred Eibeler is the current CEO at Take-Two, and they have not yet named a successor for the position of Vice President of Production.

10/19/2006 Ben Dutka

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