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Take-Two Financial Chief Resigns

The expected exit follows a management changeover.

Yet another head has rolled at video game publisher

Take-Two Interactive

(TTWO) - Get Take-Two Interactive Software, Inc. Report


Take-Two's chief financial officer, Karl Winters, resigned Monday, nearly two weeks after shareholders sent the company's former CEO and the entire board packing.

Lainie Goldstein, who currently serves as Take-Two's senior vice president of finance, has been named interim CFO. Goldstein joined the company in November 2003.

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Shares of Take-Two closed down 49 cents, or 2.3%, to $20.76.

On March 29, a group of shareholders consisting of Oppenheimer Funds, S.A.C. Capital Management, Tudor Investment and D.E. Shaw Valence Portfolios replaced former CEO Paul Eibeler and the entire slate of board of directors at Take-Two.

The group installed

Strauss Zelnick, founder of the management consultant firm ZelnickMedia, as Take-Two's new chairman, and Ben Feder, his colleague, as the company's CEO.

Winters' exit has been just a matter of time. Though he was asked to stay after Eibeler was voted out, there have been questions surrounding Winters' tenure, during which the company faced scrutiny from the

Securities and Exchange Commission

over its accounting practices and questions over its stock option grant practices.