Who is LaVerne Srinivasan and what is her background?

LaVerne Srinivasan is the newly appointed director to Take-Two's Board. She is currently the Vice President of the National Program and Program Director for Education at Carnegie Corporation of New York. Her previous experience includes co-founding an education technology company (Fiero Now) and serving as Deputy Chancellor for the New York City Department of Education. She also has experience in the entertainment industry with BMG Entertainment.

What is the significance of this director appointment for Take-Two?

The appointment of Ms. Srinivasan brings diverse expertise to the Board, particularly in areas like technology, marketing, and strategic leadership within the education and entertainment sectors. Her background could provide valuable insights as Take-Two continues to innovate and grow in the interactive entertainment market.

How will Ms. Srinivasan be compensated for her role as a director?

Ms. Srinivasan's compensation includes an annual retainer of $60,000 in cash and $190,000 worth of restricted stock, granted quarterly and vesting after one year. Additionally, she will receive $10,000 annually for her service on the Corporate Governance Committee.

Is Ms. Srinivasan considered an independent director?

Yes, the Board of Directors has determined that Ms. Srinivasan meets the independence requirements set by the Securities and Exchange Commission and the NASDAQ Stock Market Rules.

TTWO 8-K: Leadership Changes

Summary

Take-Two Interactive Software, Inc. (TTWO) announced a change to its Board of Directors through a Form 8-K filed on March 22, 2017, with the earliest event reported on March 17, 2017. The company increased the size of its Board from six to seven members and appointed LaVerne Srinivasan as a new director. Ms. Srinivasan, who will stand for election by stockholders at the 2017 annual meeting, brings a wealth of experience in education, technology, and marketing, including her current role as Vice President at Carnegie Corporation of New York and previous experience as Co-Founder of an education technology company and Deputy Chancellor for the New York City Department of Education. This appointment is significant as it diversifies the board's expertise, particularly in areas related to technology and marketing, which are crucial for the interactive entertainment industry. Ms. Srinivasan's background suggests a potential focus on strategic growth, innovation, and community engagement. Her compensation package includes both cash and restricted stock, aligning her interests with those of the company's shareholders.

Key Highlights

1Appointment of LaVerne Srinivasan as a new director to the Board, increasing the Board size to seven members.
2Ms. Srinivasan has extensive experience in education, technology, and marketing, with roles at Carnegie Corporation of New York and previously as Co-Founder of an education technology company.
3Her background includes significant experience in the education sector, including a former role as Deputy Chancellor for the New York City Department of Education.
4The Board has determined Ms. Srinivasan meets the independence requirements for both the SEC and NASDAQ.
5Ms. Srinivasan has been appointed to the Corporate Governance Committee of the Board.
6Her compensation as a director includes an annual retainer of $60,000 cash and $190,000 in restricted stock, vesting over one year, plus an additional $10,000 annually for her committee service.
7The appointment is effective March 17, 2017, and Ms. Srinivasan will stand for election by stockholders at the 2017 annual meeting.

TAKE TWO INTERACTIVE SOFTWARE INC 8-K Report, Executive Changes (Mar 22, 2017)

Summary

Key Highlights

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