Summary
Take-Two Interactive Software, Inc. announced a significant addition to its Board of Directors with the appointment of Robert A. Bowman, effective April 16, 2007. Mr. Bowman, a seasoned executive with extensive experience as President and CEO of Major League Baseball Advanced Media, L.P., fills a newly created seat, expanding the Board to eight members. His background in interactive media and leadership positions in other public companies, including Blockbuster Inc. and World Wrestling Entertainment, Inc., suggests a valuable strategic contribution to Take-Two. In addition to his board role, Mr. Bowman is slated for appointment to the Audit Committee, a crucial governance body. His compensation for joining the board includes a grant of 6,000 restricted common shares and an option to purchase 25,000 shares at $20.80 per share, with vesting over three years. This move signals the company's commitment to strengthening its leadership and governance as it navigates the dynamic interactive entertainment market.
Key Highlights
- 1Robert A. Bowman appointed to Take-Two's Board of Directors on April 16, 2007.
- 2Board size increased from seven to eight members.
- 3Mr. Bowman brings significant experience as President and CEO of Major League Baseball Advanced Media, L.P.
- 4He is expected to be appointed to the Audit Committee.
- 5Mr. Bowman also serves on the boards of Blockbuster Inc. and World Wrestling Entertainment, Inc.
- 6New director compensation includes 6,000 restricted shares and an option for 25,000 shares at $20.80.
- 7Restricted shares and options vest in three equal annual installments starting one year from the grant date.