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EA CEO John Riccitiello is to resign from his post at the end of the month.
Riccitiello will step down as CEO and as a member of the Board of Directors on March 30, with former EA president Larry Probst temporarily appointed executive chairman “to ensure a smooth transition and to lead EA’s executive team” while the publisher searches for a permanent CEO.
“My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year,” Riccitiello wrote in an open letter on EA’s website.
“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.”
Despite the shortfalls, EA thanked Riccitiello for his time at the company, adding that the exec was “instrumental in driving [the publisher’s] very significant growth in digital revenues”.
“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 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.”
“EA is an outstanding company with creative and talented employees, and it has been an honor to serve as the Company’s CEO,” added Riccitiello.
“I am proud of what we have accomplished together, and after six years I feel it is the right time for me pass the baton and let new leadership take the Company into its next phase of innovation and growth. I remain very optimistic about EA’s future – there is a world class team driving the Company’s transition to the next generation of game consoles.”
Riccitiello first joined EA in 1997 before leaving to co-found private equity firm Elevation Partners. He rejoined the firm as CEO in 2007.
EA is expected to announce its fourth quarter and fiscal year 2013 results on May 7, 2013.
Source: EA Press Release, EA.com
