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Icahn forces board change at Take-Two

Three directors of Take-Two are to step down from their positions following pressure from shareholders including billionaire investor Carl Icahn, who owns over 11 per cent of the publisher.

Ben Feder, Grover Brown and John Levy have announced they will not stand for re-election, although Feder will remain CEO, with Icahn nominating SungHwan Cho, Brett Icahn and James Nelson in their place. An election will take place at the 2010 annual stockholder meeting.

"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," commented Strauss Zelnick, chairman of the Grand Theft Auto publisher.

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