John Riccitiello Steps Down As EA's CEO

Starting March 30th, John Riccitiello will be known as the former chief executive officer of Electronic Arts. He came back to the company in 2007 to spearhead a new direction for the mega-publisher but after six years of service, he's stepping down and stepping away from the software publishing company.

Polygon has a detailed rundown of the events, catching wind of Riccitiello's letter of resignation as the executive officer for one of the largest video game publishers in the world. Riccitiello stated that...

"This is a tough decision, but it all comes down to accountability," ... "The progress EA has made on transitioning to digital games and services is something I'm extremely proud of. However, it currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued in January, and we have fallen short of the internal operating plan we set one year ago. EA's shareholders and employees expect better and I am accountable for the miss."

Electronic Arts' board of directors have named Larry Probst as the day-to-day replacement in the leadership role for EA. This comes after Riccitiello performed two stints with the company, one from 1997 to 2004 and then again from 2007 to 2013.

Riccitiello further noted that...

"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."

Electronic Arts has already put aside $80 million for next-generation game development, they also stated that the next generation of gaming will be the next golden age of gaming. Larry Probst has positive words for the company's future, writing in an EA blog post that...

"Looking ahead, EA's strategy and future are rock solid," ... "Our business is built on more than a dozen powerful, globally recognized brands. We are clear leaders in the fastest growing category in games — mobile — and we are positioned to lead on the next generation of consoles. Most importantly we have deep reserves of talent — new faces and industry veterans who form the core of EA's leadership. We have an important year ahead of us and I look forward to working with all of you as we navigate the path to future success!"

A lot of the focus is now on the future and Electronic Arts is planning on unveiling Battlefield 4 next week after teasing the game two days ago.

Will Usher

Staff Writer at CinemaBlend.