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Herb Greenberg, a senior columnist for MarketWatch, has declared Paul Eibeler, the CEO of Take-Two Interactive, the “Worst CEO of the Year”.
“Eibeler is the latest in a revolving door of CEOs at the video game maker, having taken the post in January for what amounts to a second tour of duty in the company’s executive suite…Eibeler, for his part, has done such a poor job getting his arms around the company that Take-Two has missed its own earnings guidance for multiple quarters. So far this year it has sliced earnings guidance by more than 60% to a range of 53 cents to 56 cents a share, after the company’s hot-selling game, Grand Theft Auto, was given the dreaded ‘adult’ rating by the video software industry’s rating group,” Greenberg wrote. “The company has since suffered a series of setbacks on the rollouts of newer games – a perennial problem at Take-Two that appears to be getting worse. In the end, the buck stops with the guy at the top and at Take-Two that would be Paul Eibeler. Congratulations, Paul! (To shareholders: condolences.)”