Electronic Arts said today that its CEO John Riccitiello will step down effective March 30. The videogame company’s board has appointed Larry Probst as executive chairman while the board searches for a permanent CEO. The board will consider internal and external candidates with the assistance of an executive search firm. Riccitiello has served as CEO since 2007. “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”, Riccitiello said in a statement. Probst, who served as EA’s CEO from 1991 to 2007 when Riccitiello took the reigns, said in a statement that both he and Riccitiello “have mutually agreed that this is the right time for a leadership transition”. The announcement also came as the company warned that its fourth-quarter results could fall short of expectations. EA said results for the current quarter will be at the low end of, or slightly below, its January forecast of per-share earnings between 57 cents and 72 cents and revenue of $1.03 billion to $1.13 billion. EA will announce its fourth quarter and fiscal year 2013 results on May 7.
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This article was printed from http://www.deadline.com/2013/03/electronic-arts-john-riccitiello-ceo-resigns/