Electronic Arts (EA) CEO John Riccitiello will resign from his position with the video-game manufacturer, as well as step down as a member of its board of directors, on 30 March. The company did not provide a reason, but in a statement said EA is likely to miss financial targets for the current quarter.
EA’s board of directors has appointed Larry Probst as executive chairman while the company seeks a new CEO.
Probst thanked Riccitiello 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,” Probst added.
“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 said that 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.”
EA’s fourth-quarter and fiscal year 2013 results are scheduled to be released on 7 May.