Rejoice!!! Riccitiello Steps Down!

[Ventus]

EA CEO John Riccitiello Steps Down - IGN

Electronic Arts' John Riccitiello is stepping down as chief executive officer. He submitted his resignation to EA's board of directors today, and will finish his tenure March 30. Effective immediately, former EA president and CEO Larry Probst will step in as executive chairman while the company searches for a replacement.

"We appreciate John's leadership and the many important strategic initiatives he has driven for the Company," Probst said. "We have mutually agreed that this is the right time for a leadership transition."

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

EA's earnings have been on the decline, and the company recently faced numerous layoffs as well.

In a press release statement, Riccitiello said, "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."

When IGN inquired for additional context from EA, a representative stated, "We’re not going to comment beyond the publicly released material."

Riccitiello served as CEO since 2007.

Eff. Yes. I am SO glad to hear this guy has resigned. What do y'all think? Can the company finally turn around?

 

[Austin]

I doubt it's just one person that's the issue. As long as they're still making money I doubt we'll see any sort of dramatic shift from them.

 

[Dr3W21]

While I do agree with Austin, I have to say..... I hope it does cause a shift of some sort. I don't think anyone likes EA.

 

[Castle]

This is honestly a surprise, but I think what Riccitiello really means is, "Ima greedy b@$t@rd who's running a vile corporation into the ground and ruining an entire entertainment industry so I had better jump ship before the water starts getting hot." He doesn't give two farts about accountability.

Is this a good thing? Perhaps ... can the departure of one jerk, even the CEO, turn an unscrupulous corporate entity around? I sure hope so, because this comes just short of an impending gamer revolt and dare say another industry collapse. When the company you helm spearheads the business standard of actively screwing over customers you had better expect your customers to stop being customers.

Yet another in a long line of industry leaders to voluntarily flee the business, and in Riccitiello's case it's about bloody time. I fear he and EA has already done more than enough damage. The least we can hope for is that it is not yet fubar'd, and the best we can hope for is that Riccitiello's departure somehow manages to start turning things around.

It's not like he was the king of the industry or anything, though. So it's not like he suddenly abdicates the throne and we see a new era of prosperity. Some other EA jerkwad is likely to fill the void left by his departure anyway.

 

[Terminus]

Whatever, if EA's patrons stop getting screwed over I'll believe this helped. Until then they will not get any of my money.

 

[Emma]

I severely doubt they'll improve their practices. The entire company is corrupted too badly for the resignation of one man to fix it all. It's spread too far for that to be enough. I'd say it's too soon to celebrate. They'll still be terrorizing the gaming industry for years to come.

 

[Castle]

They'll still be terrorizing the gaming industry for years to come.

If EA, or the industry, lasts that long anyway. At the rate their going, with any hope EA will screw themselves into bankruptcy sooner rather than later. With any more hope they won't bring the rest of the industry down with it. Well, if they want to drag the other problems down along side them, I won't object.

In the grand scheme of things, Riccitielo's departure is just news. Not a victory or fortune for anyone, I'm afraid.

 

[JuicieJ]

Yeah, not really. All he's done is hand his demonic powers over to the next guy for him to use as he pleases.