According to SEC filings today Gary Dale’s employment as Chief Operating Officer of Take-Two Interactive Software, Inc. (the “Company”) will terminate effective on April 15, 2009, and the Company will have no further material obligations to Mr. Dale beyond that date. Mr. Dale’s day-to-day duties and responsibilities for the Company will cease immediately. 

Take Two Interactive could not  be immediately reached for comment or to find out who is acting COO until a new appointment is made. GDN will keep you up to date with all the latest as we get it.

Edit: Take Two’s Spokesman Allan Lewis just called us about the above news. According to Mr. Lewis, the current duties of the COO will be absorbed among other current employees and the position will not be filled. We are still working on this story and will continue to update you as we get the details - Wade

"He was elevated to his current position in August 2008, so I suppose it is fair to credit him with any of Take-Two’s decisions from there forward, but it’s only been five months, so it is again difficult to attribute the company’s relatively light release schedule to him," said Michael Pachter, financial analyst at Wedbush Morgan Securities.

Allan Lewis, VP at Take-Two Interactive contacted GDN with the information that Mr. Dale would not be replaced and said that his duties would be dispersed among other officers. He also stated that Mr. Dale resigned and was not terminated.

Michael Pachter summed it up with, "I don’t see this as an earth-shattering move, nor do I think it will impact the share price in a meaningful way."

Oddly enough the stock slide began in August/September and has brought it to a 52-week low. The stock was up 34 cents or 4.8% at press time, $7.43.