Electronic Arts Announces Change in Executive Leadership

[The Straight Story]

Electronic Arts Announces Change in Executive Leadership

Larry Probst Appointed Executive Chairman, Effective Immediately

Company Updates 2013 Fiscal Outlook

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- 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 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 appreciate John's leadership and the many important strategic initiatives he has driven for the Company. We have mutually agreed that this is the right time for a leadership transition."

On behalf of the Board, Lead Director Richard A. Simonson stated, "As we begin the CEO search, we are fortunate that Larry, who has a proven track record with our employees, partners and customers, has agreed to assume a day-to-day leadership role as Executive Chairman. He has 16 years of experience as CEO of EA and a deep understanding of the Company's strategy, management team, business potential and industry trends."

http://investor.ea.com/releasedetail.cfm?ReleaseID=749234

[Initech]

1. $10 says that despite the massive fuck up known as Sim City 5...

The outgoing CEO still gets a nice compensation package worth seven or eight figures.

[RandiFan1290]

2. I still won't reinstall SWTOR!

[jollyreaper2112]

3. I like video games

But there's no justification for this kind of money going into it. Corporate shit ruins everything, sucks the joy out of life. Games used to be fun. I can't enjoy the corporate shit anymore.

[Notafraidtoo]

4. Hopefully they will focus on quality now

EA has taken great games and ideas and rushed them for profit causing them to come just short of what they could be,its really sad being a gamer and seeing great idea's watered down and made non fun. I will have a hard time forgiving them for rushing Mass effect 3 and allowing it to have maybe one of the worse endings in video game history( Thankfully a few months later they somewhat fixed it due to customer outrage).

When i play EA games i can just feel the shortcuts made for profit,its why i avoid their titles now.

[RedCappedBandit]

5. EA is where game studios go to die