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Former Take-Two Board Member Has Transparency Concerns

Following <a href="http://www.gamasutra.com/php-bin/news_index.php?story=7926">yesterday's Take-Two announcement</a> regarding a board reshuffle and restated filings, dep...

Simon Carless, Blogger

January 26, 2006

1 Min Read

Following yesterday's Take-Two announcement regarding a board reshuffle and restated filings, departed Audit Committee chair Barbara A. Kaczynski's letter, drafted by her lawyer Bruce Baird, has been made available via SEC filing. The letter reveals significant concerns on Kaczynski's of "an increasingly unhealthy relationship between senior management and the board of directors" at the Rockstar, 2K Games, Global Star Software and Joytech owner, especially regarding the late filing of the firm's accounts. However, Kaczynski also references lack of transparency over "Take Two’s discovery of illicit images depicted in its Grand Theft Auto videogame, the Federal Trade Commission’s investigation of Take-Two following that discovery, and various SEC inquiries directed at Take-Two and its employees" as leading to her resignation. In fact, in Baird's letter, Kaczynski charges of her experience on the board at Take-Two: "In her experience, management’s interactions with the board were characterized by a lack of cooperation and respect. Moreover, Ms. Kaczynski felt that management failed to keep the board informed of important issues facing the company or failed to do so in a timely fashion." In response to these allegations, a Take-Two spokesperson commented to Reuters: "The comments in the filing represent Ms. Kaczynski's personal point of view. We do not believe these views are shared by the other board members." Take-Two shares were off 20c to $17.56 in mid-day trading on NASDAQ.

About the Author(s)

Simon Carless


Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.

He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.

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