EA CEO John Riccitiello Steps Down, Larry Probst Becomes Executive Chairman

EA’s CEO John Riccitiello has just submitted his letter of resignation to the company’s board. He’s stepping down on March 30 and Larry Probst is stepping in as Executive Chairman. Probst will lead the hunt for a permanent CEO. Riccitiello has led EA since 2007 and through a dramatic transformation in the industry as the gaming world has moved from selling expensive console games on the shelves of big-box retailers to one in which mobile phones and tablets are fast-becoming a platform of choice for many developers. He was president and chief operating officer from 1997 to 2004, then left EA to co-found and lead Elevation Partners until he was later rehired by the company. EA said in the release announcing his resignation that its revenues and earnings per share for the current quarter will be at the “low end” of the guidance in its last release from January 30. A few other mid and senior-level executives sounded surprised at the changes in just asking around so far. But EA suffered a big black-eye in the last few weeks with the botched launch of Sim City. We’re still figuring out details. Updating…. Electronic Arts Announces Change in Executive Leadership Larry Probst Appointed Executive Chairman, Effective Immediately Company Updates 2013 Fiscal Outlook REDWOOD CITY, Calif. ? March 18, 2013 ? Electronic Arts Inc. (NASDAQ: EA) today 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. Mr. 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 successfully grew the Company?s annual revenues from $175 million to approximately $3 billion, led EA into new platforms such as mobile, online and other emerging markets and expanded its international presence to more than 75 countries. ?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 Mr. Probst. ?John

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