John Riccitiello Of EA Stands Down As CEO
UPDATE – 18/3/13 – 21:36 pm
Following the news of John Riccitiello’s departure from EA, his resignation letter has been released and is as follows:
I hereby offer my resignation as CEO of Electronic Arts effective with the end of our Fiscal Year 13 on March 30, 2013.
This is a tough decision, but it all comes down to accountability. The progress EA has made on transitioning to digital games and services is something I’m extremely proud of. However, it currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued in January, and we have fallen short of the internal operating plan we set one year ago. EA’s shareholders and employees expect better and I am accountable for the miss.
I have been at the helm as EA’s CEO for six years and served as COO for nearly seven years starting in 1997. I know this company well, and I care deeply about its future success. I leave knowing EA is a great company, with an enormously talented group of leaders and the strongest slate of games in the industry. I could not be more proud of our company’s games, from Battlefield and FIFA, to The Simpsons: Tapped Out and Real Racing 3. We have built many great franchises that will serve the company well in FY14 and beyond. In particular, I am confident that the investments we have made in games for next-generation consoles will put EA in a strong leadership position for many years ahead.
In offering my resignation, my goal is to allow the talented leaders at EA a clean start on FY14. I look forward to working with you in the coming weeks on an effective leadership transition. I’m extremely honored to have led this company and proud to have worked with all the great people at Electronic Arts.
ORIGINAL STORY FOLLOWS
John Riccitiello of EA will be stepping down from his role of chief executive officer as of March 30th. He will be replace by former president and CEO Larry Probst who will take on the task of executive chairman.
According to Probst, the decision was mutual with further explanation that “We appreciate John’s leadership and the many important strategic initiatives he had driven for the Company. We have mutually agreed this is the right time for a leadership transition.”
In a press statement published Riccitiello said “EA is an outstanding company with creative and talented employees, and it has been an honor to serve as the Company’s CEO. I am proud of what we have accomplished together,” Said Riccitiello, “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.”
There has been no details as to why Riccitiello has decided to resign or whether its related to EA’s recent decline in profits and various company wide layoffs.
George Sinclair is an editor for Analog Addiction, the home of the latest news, reviews and previews. You can follow George on Twitter and his blog on IGN. Don’t forget to follow the OFFICIAL Analog Addiction Twitter!