EA CEO steps down following another poor quarter

EA CEO steps down following another poor quarter
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."

Written by: Andre Yoskowitz @ 18 Mar 2013 19:34
Tags
EA corporate earnings larry probst John Riccitiello
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  • 9 comments
  • bobiroc

    Who would have guessed that if you screw your customers with excessive and unneccessary DRM, and essentially make your customers pay to win/complete a game after they already bought it that you would lose money after you pissed off your customers.

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    18.3.2013 19:38 #1

  • KSib

    Maybe this is the beginning of something great. Who knows?

    18.3.2013 20:45 #2

  • lamain

    Seeing as SimCity and other games that have a always on DRM have sold well I doubt EA will change there stance on it. People need to speak with there wallet not just online complaints.

    18.3.2013 22:54 #3

  • Bozobub

    This is already hitting 'em in the wallet. You think there are a lot of new sales of the game, since Amazon put the kibosh on sales..? For that matter, the free game giveaway they're trying to save their collective ass with is also quite a cost.

    Whether that's enough to smack some sanity into wizened little bean-counter craniums, well, who knows? But DRM is nothing but a vast money-sink that's designed specifically to enrage their own legitimate customers, so they're eventually going to start counting THOSE beans, one would hope.

    19.3.2013 05:00 #4

  • megadunderhead

    Ha ha ha ha ha ha ha !!!

    See EA your customers are not as stupid as you think the more drm you use the less of your game sales you experience and worse of which you morons didn't understand to begin with is we dont like to pay for online play and play to pay the motto may work well for some games but not yours

    19.3.2013 08:11 #5

  • hearme0

    Correct me if I'm wrong but didn't EA rank as most hated or 'worst' company just last year?

    Figures!!

    20.3.2013 13:04 #6

  • bobiroc

    Originally posted by hearme0: Correct me if I'm wrong but didn't EA rank as most hated or 'worst' company just last year?

    Figures!!
    Yes they were voted the worst company of 2012

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    20.3.2013 13:25 #7

  • Hacker7 (unverified)

    EA sucks and so does C.O.Dokey !

    20.3.2013 19:22 #8

  • deak91

    maybe this will end the always online crap

    20.3.2013 20:10 #9

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