Andre Yoskowitz
18 Mar 2013 19:34
EA's longtime CEO John Riccitiello has resigned today following another poor earnings quarter.
The exec will step down on March 30th, with Larry Probst stepping in as an interim CEO while the company searches for a permanent replacement.
Riccitiello says he was resigning due to the company's poor financial performance, but surely the recent SimCity debacle must have had a small part in the decision, as well.
"My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year," he noted. "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."
The company said net revenue this quarter would be about $1.115 billion, at the very low end of the company's own recent guidance.
Mr. Riccitiello added, "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."