Big changes are in the works today at Electronic Arts as John Riccitiello resigns his CEO position. In his resignation letter, Riccitiello cites his personal responsibility for the failure of the company to meet financial guidance.
“This is a tough decision, but it all comes down to accountability,” said Riccitiello. “The progress EA has made on transitioning to digital games and services is something I’m extremely proud of. However, it currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued in January, and we have fallen short of the internal operating plan we set one year ago.”
“EA’s shareholders and employees expect better, and I am accountable for the miss.”
A successor has not been named at this early stage, but Riccitiello is hoping to “allow the talented leaders at EA a clean start on FY14″.