Take-Two CEO Resigns After Forecast Is Cut
From Bloomberg News
Take-Two Interactive Software Inc., maker of “Grand Theft Auto” video games, said Chief Executive Jeffrey Lapin, 47, resigned as the company delayed some game releases and forecast a loss this quarter. Chairman Richard Roedel, 54, will be interim CEO.
The shares fell 9.3% after Take-Two predicted a loss of 15 cents a share for its second quarter ending April 30. Sales are expected to fall 12% to $170 million. Take-Two had forecast profit of 33 cents and $220 million in sales.
New York-based Take-Two said it had delayed the release of “Red Dead Revolver,” a Wild West shooting game.
Take-Two shares fell $3.28 to $31.92 on Nasdaq.
From Bloomberg News
