John Riccitiello to step down as CEO of EA

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

The Board has appointed Larry Probst as Executive Chairman to ensure a smooth transition and to lead EA’s executive team while the Board conducts a search for a permanent CEO. The Board will consider internal and external candidates with the assistance of a leading executive search firm.

"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 have mutually agreed that this is the right time for a leadership transition."

Larry Probst has played a leadership role at EA since 1991. In addition to serving as Chairman of the Board since 1994, he previously served as the Company’s CEO from 1991 to 2007. As CEO, Probst grew the Company’s annual revenues from $175 million to approximately $3 billion.

Riccitiello stated, “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."

EA expects that its revenues and earnings for the current quarter will be at the low end of, or slightly below the expectations released in January.

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