Print 31 comment(s) - last by TSS.. on Mar 20 at 1:40 AM

He has held himself accountable for falling short of the company's financial guidance

Electronic Arts' (EA) chief executive officer announced his resignation today due to missed financial targets.

EA CEO John Riccitiello has resigned after six years of service, which will be effective March 30, 2013. Riccitiello will also no longer be a member of the board of directors.

"This is a tough decision, but it all comes down to accountability," said Riccitiello in an internal memo. "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.

"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, 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."

EA's board of directors has appointed EA executive Larry Probst to fill in as executive chairman until the company finds a permanent CEO. Probst was CEO of the company from 1991-2007 when Riccitiello stepped in.

"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."

Game publishers like EA have had a rough time in the financial department due to digital sales becoming as increasingly popular as box retail game sales -- and it doesn't help that EA recently had server issues with its largely popular release "SimCity."

"SimCity" launched earlier this month, and many servers crashed during the international release. EA announced that it would add more servers to help out the workload.

Sources: Forbes, Gamespot

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RE: good riddance
By Reclaimer77 on 3/18/2013 8:07:20 PM , Rating: 0
Yup and once again the free market works. Guy does shitty job, piss off a ton of customers, guy gets fired.

- BF3: the PC version came with software that scanned your entire PC,and sent the results back to EA. this was documented by users to include even backups of cellphone address books.

Whoa, didn't hear about that one 'till now. Jesus...

RE: good riddance
By Kyuu on 3/18/2013 9:23:00 PM , Rating: 5
Yeah, he made more money in 6 years than any average person could see after working for several lifetimes, then got "fired" for doing a shitty job. I'm sure he's getting some kind of "golden parachute" severance package too.

Woo, go free market.

RE: good riddance
By Ammohunt on 3/19/2013 11:27:44 AM , Rating: 3
This is America you have the same opportunity as this guy to seek out the same compensation he received but you have to work your ass off for it probably something that would interfere with you game playing.

RE: good riddance
By TSS on 3/20/2013 1:40:38 AM , Rating: 2
And you'd have to sell your soul to the devil. Because if you don't make those quarterly results for which you have to screw over so many people, you will NEVER get that job. That's the America of today.

Some people have a problem with rewarding evil and punishing good, yknow....

RE: good riddance
By Cheesew1z69 on 3/19/13, Rating: 0
RE: good riddance
By GulWestfale on 3/19/2013 3:10:35 PM , Rating: 1
here you go, reclaimer. and sorry, it's not BF3 scanning your PC, it's origin.

“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls

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