EA CEO John Riccitiello steps down as earnings disappoint
Taiwan News, Website Editorial Staff
2013-03-19 11:39 AM
Electronics Arts CEO John Riccitiello, who presided over a rocky six-year period at the video game giant, is resigning from the Redwood City company, EA announced Monday.

EA, the second- largest U.S. maker of video games, named Larry Probst as its executive chairman to oversee daily operations of the company. Probst had previously served as chairman of the company’s board and was EA’s CEO from 1991 to 2007, when he was replaced by Riccitiello.

U.S. retail sales of video games slid 22 percent last year to $13.3 billion, according to NPD Group, an industry researcher. Several new titles under Riccitiello failed to meet expectations, and the latest version of its popular “SimCity” suffers from server problems.

"My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year," Riccitiello addressed his departure in a blog.

“He lasted a pretty long time given that the company hasn’t really performed that well,” said Edward Woo, an analyst at Ascendiant Capital Markets in Irvine, California. “The fact that their stock is up on the news goes to show investors weren’t that big a fan of Riccitiello.”

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