Larry Probst, Executive Chairman
Today John Riccitiello submitted his resignation to EA’s Board of Directors. In a letter to the Board, John outlined that while the company has made enormous progress in improving product quality and transitioning to digital games and services, our financial performance is tracking below the expectations set at the beginning of our fiscal year. This was disclosed in our last earnings call.
John’s final day will be March 30. I will serve as executive chairman and work with John and the management team to ensure a smooth and orderly transition. The Board will immediately initiate a search and both internal and external candidates will be considered for the CEO position.
I hired John in 1997 as our COO and, after leaving to start a private equity firm, he rejoined in 2007 as our CEO. In 12 years of service, he compiled a history of great leadership. John’s tenure at EA has been marked by bold decisions, a big vision for online games, a passion for product quality and an enduring respect for the people who work here.
John made an indelible mark on our culture and shaped many of our most successful leaders. We wish him the very best in whatever he decides to do next.
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!