EA CEO Riccitiello resigns

Written by David Hing

March 19, 2013 | 09:01

Tags: #ceo #financial #john-riccitiello #resignation

Companies: #ea

Electronic Arts chief executive John Riccitiello has submitted his resignation effective from March 30.

The chief executive role will be filled in the short term by former chief executive Larry Probst with the current chief operating officer, Peter Moore, suggested as his possible permanent replacement by industry pundits.

In stepping down, Riccitiello declared that he is responsible for the likely shortcomings in the publishers approaching quarterly results.

'The progress EA has made on transitioning to digital games and services is something I'm extremely proud of,' said Riccitiello. 'My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year. It currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued to the Street, and we have fallen short of the internal operating plan we set one year ago. And for that, I am 100 percent accountable.'

Joining EA in 1997, Riccitiello took over as chief executive in 2007 and has focused on investment in social gaming and digital business operations in an attempt to recover the company's stock value which plummeted in 2008.

'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,' said Probst. 'We appreciate John's leadership and the many important strategic initiatives he has driven for the company.'

EA has recently taken a public image beating over the catastrophic launch of the latest instalment to the SimCity series. A requirement for a constant internet connection meant many players were able to even play the new game when the publisher's servers collapsed under the strain.
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