Take-Two CEO Feder Out, Strauss Zelnick In

Ben Feder, CEO of Take-Two Interactive, is stepping down from his position a little under a year after stepping down from the board to make room for new members chosen by activist investor Carl Icahn.

Strauss Zelnick, the company’s executive chairman, will replace Feder effective January, 1, 2011.

Take-Two is the company behind massively successful video game developer Rock Star, which created blockbusters like Grand Theft Auto.

Feder sounded every bit the warrior in explaining his departure. “Now that the company is in a position of strength and is poised for solid performance in the future, the time is right for me to honor certain commitments that I have made to my family.”

There are rumors that activist investor Carl Icahn, who owns nearly 14% of Take-Two, will try and push the company to sell itself, but so far 2010 has been a strong year, with Take-Two’s newest franchise, Red Dead Redemption, achieving both critical and commerical success.

Take-Two CEO Feder Out, Strauss Zelnick In