October 18, 2006
Is Take-Two Interactive founder Ryan Brant's resignation somehow related to the launch of Bully? That's unknown, but the timing is curious.As reported by CNN/Money, the controversial video game publisher announced yesterday that Brant, a founder of the company as well as its former chairman and CEO, stepped aside. Brant had been on disability leave since June and was listed as VP of production.
SEC investigators are looking into stock option grant procedures at Take-Two as well as at dozens of other corporations, both in and out of the game sector.
In a 2005 settlement with the SEC on another matter, Brant paid a half-million dollar fine and was forced to return over three million dollars of income. He was also barred from serving as an officer or director of a publicly traded company for five years.
New York Post reporter Roddy Boyd, who often covers the controversial Take-Two, writes in today's edition:
"Brant leaves a very mixed legacy. On the one hand, he built Take-Two into a $1.2 billion-revenue company and revolutionized video game design. On the other, Brant oversaw one of the most blatant financial frauds in recent memory, and despite being forced from his chief executive slot in 2004 left a legacy of profound corporate governance woes."
"...Brant, 35, suffered from a bad back, according to a person familiar with the company. There was no statement as to his successor at the Rockstar Games subsidiary, the unit he ran after abdicating the CEO slot."
Comments
seriously, need more info on this one!
So, sure, let John Bruce take credit for, or at the least revel in, Brant's physical disability. It wouldn't be a surprise based on John Bruce's past actions.
As to Brant leaving because of Bully... there will always be speculation one way or the other. The only person who truly knows why... is Brant himself.
nightwng2000
NW2K Software
The NY Post also says he "revolutionized video game design." Umm, what? Publishing director types don't design games...
@Blitz Fitness
How do Take Two’s quarters break down?
Their fiscal year (end of Q4) is around Oct 31st. So it's possible the two could be linked. What better way to cheer up investors than to have the guy who was in charge when the finances were in shambles "step down" rather than simply take time off to recover.
@illspirit
The NY Post also says he “revolutionized video game design.” Umm, what?
*shrug* Maybe they were talking about Rockstar, and crediting it to him since he co-founded them...
http://tinyurl.com/yzlmbn
Citigroup said the departure of founder, former chairman and chief executive officer Ryan Brant removed a big psychological overhang for the stock... Shares of the video game publisher rose 1.86 percent to $15.37 in late morning trade on Nasdaq.
I knew my Bus. Admin. degree would do something for me someday, lol.
Yeah, you would have a bad back too if you let all those politicians step all over you.
Look, I think Take-Two are fantastic publishers but they seriously need to get their shit together because it's going to compromise a lot of great games out there if they don't.
Well, JT did get all smug over that MGS fan killing himself...
Ugh, please don't remind me. I think I was angrier when I read that post than I have ever been in my entire life. And I am not exagerrating.
This happens ALL THE TIME in the corporate world.
Happened to my old boss. Fell off his porch and messed his back up bad. After about 6 months, they negotiated a contract buyout. Basically, they paid him a certain amount of money, in exchange for him waiving certain clauses in his contract, and then resigning.
Common corporate procedure.
He din't really do any direct damage,but he madea ruckus,which led to controversy,which led to the chilling effect.
Danm him.
Take Two has made some serious financial mistakes and did indeed do stuff that really isn't kosher.
But Rockstar has nothing to do with Take Two's doings. Just like Maxis isn't responsible for action Electronic Arts does.
still if T2 goes under I can see the devs under them being in hot water and I would have to see rockstar or irrational go under.