EA CEO Riccitiello Steps Down
EA’s leadership has gone through a major change today, with CEO John Riccitiello submitting his letter of resignation to the board.
In a statement posted on his blog, Riccitiello said, “My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year,” he said. “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.”
“In a few weeks, I will be leaving EA physically. But I will never leave emotionally. I am so incredibly proud of all the great things you have done, and it has been my honor to lead this team these past six years. After March, I will be cheering wildly for EA from the sidelines,” Riccitiello added.
His final day at CEO will be on March 30, according to TechCrunch. Larry Probst will step in as Executive Chairman as they try to find a new CEO.
“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,” said Mr. Probst. “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.”
Riccitiello has been EA’s head since 2007, and had previously worked at EA from 1997-2004.