Take-Two Interactive Software CEO Ben Feder To Step Down

News just got out about a serious management transition over at Take-Two Interactive Software, the major US-based publisher, developer, and distributor of video games and video game peripherals.

Chief exec Ben Feder has decided to step down, effective January 1, 2011, in order to pursue plans to travel in Asia with his family for an extended period.

Strauss Zelnick, Take-Two’s Executive Chairman, will take on the additional role of Chief Executive Officer.

Karl Slatoff, an EVP of Take-Two since 2008, has been named to the newly created role of COO. Slatoff previously worked with BMG Entertainment and The Walt Disney Company.

The news comes after the company earlier this week announced that it is changing its fiscal year to end March 31 instead of Oct. 31 to align its financial reporting more closely with the seasonality of its business.

Take-Two’s headquarters are in New York City, with international headquarters in Windsor, United Kingdom. Development studio locations include San Diego, Vancouver, Toronto and Austin, Texas.

Take-Two, which wholly owns 2K Games and Rockstar Games, has developed and published many notable games, including the Grand Theft Auto series, the Serious Sam shooter series, the Midnight Club racing series and BioShock.

The company was the target of hostile takeover bids from rival Electronic Arts issued in February 2008. The multi-billion dollar bid expired August 18, 2008.