John Riccitiello has opened up to the public about his decision to resign as CEO of Electronic Arts, a position he held since 2007.
"My decision to leave EA is really all about my accountability for the shortcomings in our financial results this year," Riccitiello said on the company blog. "It currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued to the Street, and we have fallen short of the internal operating plan we set one year ago. And for that, I am 100 percent accountable."
Speaking directly to EA employees, Riccitiello continued, "Personally, I think we've never been in a better position as a company. You have made enormous progress in improving product quality. You are now generating more revenue on fewer titles by making EA’s games better and bigger. You've navigated a rapidly transforming industry to create a digital business that is now approximately $1.5 billion and growing fast. The big investments you’ve made in creating EA’s own platform are now showing solid returns. I believe EA is alone in mastering the challenges of building a platform for our games and services – a platform that will provide a more direct relationship with our consumers."
"In a few weeks, I will be leaving EA physically. But I will never leave emotionally. I am so incredibly proud of all the great things you have done, and it has been my honor to lead this team these past six years," Riccitiello concluded. "After March, I will be cheering wildly for EA from the sidelines."
Electronic Arts is set to announce its fourth quarter and fiscal year 2013 results on May 7, 2013. In recent months, EA has suffered numerous layoffs while reporting a decline in earnings. Larry Probst, who previously served as the company's CEO from 1991 to 2007, has been appointed as Executive Chairman to "ensure a smooth transition and to lead EA's executive team while the Board conducts a search for a permanent CEO."
