02.09.99
GT Interactive Software Corp. has announced that Thomas A. Heymann is now chairman and CEO of GT Interactive, succeeding Ron Chaimowitz as the leader of the company. Chaimowitz will now serve as CEO of OneZero Media. Effective immediately, Heymann is now the guy that calls the shots around the world for GT.

Heymann, who was previously president of the Disney Store, Inc., sent profits through the roof, overseeing an eight-year growth of profits, from a $100 million annual revenue starting point to $1.5 billion. He also expanded the number of stores dramatically, from 69 stores to 697 by this year. Heymann also oversaw some expansion, adding The Disney Catalog, The Disney Store Online, The Walt Disney Gallery, The Disney Credit Card, and ESPN The Store. Talk about busy!

"The prospects for GT Interactive's future are compelling, said Mr. Heymann. "The company has a strong foundation with eight of the top internal studios as well as some of the strongest external talent in the industry and a history of strong growth and a proven track record across every category of entertainment software. With a stable full of highly entertaining properties and franchisable characters, I believe GT can emerge as the global leader in the interactive entertainment software industry."

And kudos for this man have come from every corner. Ex-Disney executives, board members for GT Interactive, and more have stepped up to praise him and to congratulate GT for landing him. General Atlantic Partners put its money where its collective mouth is and ponied up an additional $30 million in equity to invest into GT, as a sign that it was pleased with Heymann's acquisition.

"Tom Heymann has a track record of managerial excellence and overall leadership that we are highly confident he will be able to apply to GT Interactive's long-term growth strategy in interactive entertainment software," said Steve Denning, managing partner of General Atlantic, as well as a GT Board member.