That's a nice little chunk of cash for a temporary gig, wouldn't you say? I'd take it.
A few weeks ago, Electronic Arts CEO John Riccitiello resigned his position and at that time, the company temporarily promoted board member Larry Probst to head boss man. EA will be seeking a permanent replacement this year.
But in the meantime, EA will pay Probst an annual salary of $1.03 million , and the Board of Directors may also award the interim CEO with a "one-time discretionary bonus at the end of his term." Probst abstained from the Compensation Committee's salary decision and will not receive further cash retainer fees for his position on the board while he's acting as executive chairman. But I'm sure that won't hurt him any.
Probst was actually CEO of EA from 1991 all the way through 2007, so we're assuming he knows what he's doing. He is also currently the executive chairman of the United States Olympic Committee and serves on the Olympic Committee's International Relations Commission. Furthermore, he has worked for Activision and Clorox so yeah, this guy gets around. As for former CEO Riccitiello, his separation agreement includes a 24-month continued salary and other options that come in at about $4.7 million.
Potential candidates for the permanent CEO role at EA include chief operating officer Peter Moore and EA Labels president Frank Gibeau.