Take-Two Interactive announced today that chief financial officer Karl Winters has resigned, effective immediately.
The resignation follows last week's shareholder meeting at which a group of shareholders representing 46% of the company ousted the executive board and CEO Paul Eibeler. The company's senior VP of finance, Lainie Goldberg, will act as Interim CFO until a replacement is found. A search, says today's announcement, is underway.
Full release after the jump.
New York, NY - April 9, 2007 - Take-Two
Interactive Software, Inc. (NASDAQ: TTWO) today announced the resignation of Karl Winters, Chief Financial Officer, effective immediately. Lainie Goldstein, who currently serves as the Company's
Senior Vice President of Finance, has been named interim Chief
Financial Officer until a permanent replacement is named. The Company is working with Mr. Winters to ensure an orderly and effective transition.
Ms. Goldstein is a CPA with over 15 years of financial and business experience in the software, entertainment, retail and apparel industries, including more than 8 years overseeing the finance function of publicly traded companies. She joined Take-Two in November 2003 after seven years with Nautica Enterprises, where she served as Vice President, Finance and Business Development. Ms.
Goldstein also held positions in the audit and reorganization departments at Grant Thornton and received her BS in Accounting from
The American University in Washington, D.C.
"Karl oversaw finance at Take-Two during challenging times for the Company," said Ben
Feder, Take-Two's Chief Executive Officer. "We thank Karl for his years of service to Take-Two. He was instrumental in assembling a highly competent financial team that will serve us well in the future. We appreciate Karl's hard work and his continued support during the transition."
Mr. Feder added, "We have been welcomed by the extremely talented and hard working Take-Two corporate staff. We are impressed with Lainie and are confident that her financial acumen and knowledge of Take-Two's business will greatly assist us during this transition. I look forward to working closely with Lainie as we continue to address Take-Two's challenges aggressively and swiftly so that employees can focus on building the Company's bright future."
A search for a permanent Chief Financial Officer is underway.
