Take Two Interactive Software Inc (NASDAQ:TTWO) Appoints New Director To The Board


Take Two Interactive Software Inc (NASDAQ:TTWO) recently announced the appointment of LaVerne Srinivasan, to the company’s board of directors, as well as to Take Two’s corporate governance committee. The company noted that Ms. Srinivasan is currently serving as the Program Director of Education, at the Carnegie Corporation, in New York. She is also the VP of the National Program. Her work has been mostly focused around the use of creative strategies and innovative thinking, for the betterment of urban education.

The new director is also responsible for having co-founded Fiero Now, a company focused on education technology. However, Ms. Srinivasan’s career was not solely focused on education technology. She is also known to have spent over a decade at BMG Entertainment, where she held various roles, throughout her tenure. This included serving as the General Counsel and Senior Vice President, of the entertainment company.

Strauss Zelnick, the CEO of Take Two, pointed out that the new appointment broadens the skill set of the current board of directors. He further claimed that Ms. Srinivasan’s strong leadership and extensive experience, would serve as an asset for the company. The new director herself claimed that Take Two’s entertainment experiences are synonymous with innovation and creativity. She also expressed her excitement to be a part of the company, as it continues to expand its footprint, across the world.

Earlier, at the end of February, TTWO announced its financial results for the 3Q2017, surpassing analyst expectations. The company recorded a 15% surge in net revenue, on a year-over-year basis. Unfortunately, this was not enough for Take Two to record a net profit, for the period. The company recorded a net loss of $29.8 million, as compared to a net loss of $42.4 million, on a year-over-year basis. However, Take Two’s cash position and short-term investments, currently stand at $1.444 billion.

Take Two Interactive Software Inc (NASDAQ:TTWO) closed at a share price of $57.72, at the end of the March 23 trading session, 0.24% higher than the day before.