You might have already heard game publisher Electronic Arts has seen glitches in its financial numbers this year. And that, in fact, has cost the company its CEO. EA chief executive John Riccitiello has taken up responsibility for the poor show of the company and has decided to call it quits.
In a letter to the company, Riccitiello stated that he is “100 percent accountable for the company’s failure to meet financial goals and so is stepping down.
Adding that the company will likely come in at the low end or slightly below the financial estimates it provided to Wall Street last quarter, Riticello revealed that EA has “fallen short of the internal operating plan we set one year ago.”
Riccitiello’s strategy of closing down studios after they released games that didn’t immediately see critical or financial success, is believed to have gone against the fortunes.
Further, for inking exclusive contracts with companies such as NFL, NCAA, and the Arena Football League to use players’ names, he had come under fire with regard to US antitrust laws.
With Riccitiello stepping down, former CEO and current chairman of the board, Larry Probst, will take his place till a new CEO is appointed.