It's time to pass the torch over at Electronic Arts.
EA chief executive officer John Riccitiello has formally resigned his post at one of the world's biggest video game publishers. He has been CEO for six years but as of March 30, he will move on. He won't be a member of the board of directors, either.
In his place, EA has promoted veteran EA executive Larry Probst to the position of executive chairman while the company seeks a permanent replacement. Probst has been in a management position at EA since 1991 and was CEO from '91 through 2007. As of now, the company will be considering internal and external candidates and they're doing so with the help of a "leading executive search firm." So yeah, your resume might not cut it. Here's EA's statement from Probst concerning Riccitiello's departure:
"We thank John for his contributions to EA since he was appointed CEO in 2007, especially the passion, dedication and energy he brought to the Company every single day. John has worked hard to lead the Company through challenging transitions in our industry, and was instrumental in driving our very significant growth in digital revenues. We appreciate John's leadership and the many important strategic initiatives he has driven for the Company. We have mutually agreed that this is the right time for a leadership transition."
Riccitiello also had something to say about his leaving EA:
"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 you've been CEO of a corporation like EA, what do you do next? What would be considered a step up? Heck, I'd retire.