John Riccitiello will step down from his position as a CEO of Electronic Arts on March 30. Larry Probst, the company’s CEO from 1991 to 2007, will take over leadership duties while EA begins the search for a new CEO.
“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,” said Riccitiello in a statement. “My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year. 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.”
“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,” added Probst. “EA’s strategy and future are rock solid. Our business is built on more than a dozen powerful, globally recognized brands. We are clear leaders in the fastest growing category in games — mobile — and we are positioned to lead on the next generation of consoles.”