Electronic Arts CEO John Riccitiello steps down

Electronic Arts boss John Riccitiello will step down as Chief Executive Officer and as a member of the Board of Directors on March 30, the company has announced. 

A new CEO has yet to be chosen, as the board is still conducting its search for a new boss. It will consider both internal and external candidates with the assistance of a leading executive search firm to find its winner.

In the meantime, Larry Probst has been appointed Executive Chairman to ensure a smooth leave and lead EA’s executive team until a new CEO is chosen.

“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.”

In his resignation letter to Probst, Riccitiello said his leave “all comes down to accountability.

“The progress EA has made on transitioning to digital games and services is something I’m extremely proud of,” said Riccitiello. “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.

“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.”