Take-Two Interactive's dissident shareholders voted and have replaced its top executives and its board of directors. Having won control of Take-Two Interactive Software's Board and removed Chief Executive Paul Eibeler, the company behind the blockbuster Grand Theft Auto series looks for a fresh start.

The market reacted positively on the news, with shares of the company's stock seeing a modest six percent increase in trading. Strauss Zelnick, a former chief executive BMG Entertainment, was named the new chairman of the board.

Zelnick said that the board plans to make the company more efficient and that job cuts are not in the immediate future. Zelnick also said that in 3 - 6 months the company will put together a comprehensive plan to create more hits. Investors have long fought for new management at the company, which has been too dependant on "Grand Theft Auto" to drive revenue while failing to turn out new hits at the rates of its rivals. On top of that securities scandals related to top executives and board members in the company have seriously damaged the company's profitability and the now infamous Hot Coffee scandal related to GTA: San Andreas costs the company millions.

The dissident group, which included OppenheimerFunds, D.E. Shaw Valence Portfolios and S.A.C. Capital Management, owns 46 percent of Take-Two shares. Take-Two's new directors include Michael Dornemann, Benjamin Feder, incumbent director John Levy, Jon Moses, Michael Sheresky, Strauss Zelnick and appointee Grover Brown, also an incumbent. Feder will serve as acting chief executive of the company. Chief Financial Officer Karl Winters will remain for now until the new board and top executives can determine the facts.