Zelnick outlines Take-Two changes

Newly appointed chairman of Take-Two Strauss Zelnick has outlined areas of change for the troubled publisher — pointing to financial and staff issues as the immediate focus.

Speaking to business site The Street, Zelnick's first task will be to tighten the finances at Take-Two and ensure the company becomes much more efficient in handling its creative properties.

"We need to stabilise the company at the corporate level and give stakeholders, both shareholders and employees, comfort that we will maximise the value of the company," he offered.

"The company has had compliance issues, and we need to work with appropriate regulators and authorities to ensure we maintain our books right."

Ben Feder, currently acting as CEO of Take-Two after helping to oust management and board members last week, is only in the position temporarily, with Zelnick looking to hire someone permanently for the role within 12 months.

"Before we seek to fill the CEO slot we want to stabilise morale, develop our strategy and improve the structure of the company," he revealed.

But with promises of a more refined business, the possibility of redundancies is a shadow that could hang over employees for some time.

"We will be candid with people about that. Running the company in an efficient manner is important to us and we think running a lean corporate operation will help shareholders," said Zelnick.