Take-Two COO Gary Dale Resigns

Take-Two Chief Operating Officer Gary Dale will step down from his position on April 15th, with MCV reporting that Dale’s day-to-day duties and responsibilities have already ceased. Dale is said to have resigned due to personal reasons, according to a Take-Two spokesperson.

Dale had been Take-Two’s COO since August 2008. Formerly, he had been Take-Two’s Executive Vice President from December 2007. Dale had been named Rockstar’s COO in January 2007 after serving as Capcom’s European managing director from 2003. As Take-Two’s COO, his responsibilities had included sales activities, global expansion, and business development.

Take-Two has no plans to fill the position at this time, with Gamedaily BIZ quoting Take-Two spokesman Alan Lewis that “His (Dale’s) responsibilities have been filled by the remaining members of the exec development team.”

The financial outlook for Take-Two is bleak, but not bleak enough to resort to crime. Sorry, Niko.

The resignation comes in the wake of Take-Two’s troubling economic forecast reported by paidContent.org. The company posted a net loss of $15.1 million for the end of the fiscal Q4, more than doubling the $7.1 million loss of Q4 2007. Revenues were boosted by sales of Grand Theft Auto IV and other titles in 2008, resulting in a gain of $296.4 million in Q4 last year to $323.4 million in 2008.

However, Take-Two predicted revenue would come in at $175 million to $225 million for Q1 of the 2009 fiscal year, which is troubling because it includes the holidays. Analysts expected $326.2 million for Q1, sending Take-Two’s stock falling.

Earlier rumors had said that there might be a financially lucrative Grand Theft Auto sequel in 2009, but Rockstar reps have already refuted the rumor. With a COO resigning, a continuing recession, and EA’s takeover bid squashed in 2008, what does the future hold for Take-Two?