EA CEO Resigns Due to Financial Misses
March 18, 2013 6:50 PM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
RE: good riddance
3/19/2013 6:17:28 AM
holy jesus. this one is so bad it's almmsot hard to believe. almost.
RE: good riddance
3/19/2013 5:18:57 PM
Wow... I do like some of the new games EA's done in recent years. Dead Space is...well, basically a modern, super high quality Resident Evil (or at least the first two games were), but this activation and DRM stuff is just nuts. Heck, I still haven't played Spore because of that, and won't play Simcity either (of course both games sound like they have major issues anyway, but I still would have bought them...)
RE: good riddance
3/20/2013 1:36:08 AM
Deadspace isn't even close to resident evil. Resident evil is a survival horror game, Deadspace is a horror/action game. Ammo is alot less scarce, there are other humans around which do exactly what you'd expect them to, There's no fear of monsters as they come at you in waves, making the whole game feel more like a raid then a horror game.
The only thing that's scary in deadspace are jumpscares, and those are only there because of the extremely loud monster and transmission-connect noises. Like i can barely hear the weapons firing just so that my ears don't bleed everytime a monster spawns according to the script in the location i'd expect him to. In resident evil you can go half a level, be scared out of your wits and not meet a single monster. Right up until the point you relax, that's when there's a zombie around the corner.
I'd love to say EA ruined that series as well, but that's only if you consider it a survival horror game which it never was. As an action game it's pretty acceptable still, which is suprising. Give them time though, if they don't mess up the game directly they'll Simcity it and bury it in either DRM or microtransactions.
EA needs to die. The IP will be sold to people who are really passionate about it. Some will go to people just trying to make money, sure, but at this point how could even that be worse then EA?
"Game reviewers fought each other to write the most glowing coverage possible for the powerhouse Sony, MS systems. Reviewers flipped coins to see who would review the Nintendo Wii. The losers got stuck with the job." -- Andy Marken
Quick Note: EA Will Add More Servers for "Overworked" SimCity
March 7, 2013, 1:24 PM
EA Expects Digital Sales to Overtake Box Retail Game Sales in 2 to 3 Years
August 13, 2012, 9:50 AM
Cortana, Xbox App, OneDrive Apps/Settings Backup Added to Windows 10 Build
December 15, 2014, 3:43 PM
Quick Note: Windows Phone Finally Gets Candy Crush Saga
December 13, 2014, 2:03 PM
Next Windows 10 Test Build Likely to Land on Jan. 21, Press Event Announced
December 11, 2014, 5:49 PM
New FourSquare App Hits Windows Store, WinPhone Gets Official Minecraft App
December 10, 2014, 2:15 PM
RIP, Microsoft Clip Art (1993 to 2014), You'll be Missed (Sort of)
December 3, 2014, 3:54 PM
Quick Note: Monday is Last Day for Half Off (or More) Square Enix Games
December 1, 2014, 5:30 AM
Most Popular Articles
Air Force Worries Hot Fuel Could Harm F-35, "Proactively" Paints Trucks Shiny
December 11, 2014, 9:06 AM
LaWS (Laser) "Kills" Boat-Hauled Fuel Tanks, UAV "Bomber" in the Persian Gulf
December 12, 2014, 8:31 PM
BlackBerry Classic Sells Out Online (Seriously, It Has) for North America
December 15, 2014, 7:07 PM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Ford Announces QNX-Powered SYNC 3, Brags It's "More Smartphone-Like"
December 11, 2014, 10:32 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information