Electronic Arts’ John Riccitiello resigns as CEO

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Electronic Arts CEO John Riccitiello has resigned from his position at the head of the game publisher, effective from 30 March.

The reason given for his resignation, in a letter to EA chairman Larry Probst, is the the company seems likely to underperform in its “internal operating plan” and that “EA’s shareholders and employees expect better and I am accountable for the miss.”

The value of EA as a company has fallen steadily over the past six years, thanks to losses at retail. These were tempered by Electronic Arts growing its digital business at the same time, but the publisher remains a far cry from its high in 2005.

Larry Probst said in a statement “We thank John for his contributions to EA since he was appointed CEO in 2007, especially the passion, dedication, and energy he brought to the company every single day. John has worked hard to lead the company through challenging transitions in our industry, and was instrumental in driving our very significant growth in digital revenues. We appreciate John’s leadership and the many important strategic initiatives he has driven for the company. We have mutually agreed that this is the right time for a leadership transition.”

Probst will be taking over the Electronic Arts helm temporarily as executive chairman while a replacement for Riccitiello is found.

Source: The Guardian

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