Electronic Arts CEO John Riccitiello to step down
John Riccitiello appears on Jun. 14, 2010, in Los Angeles. / Michal Czerwonka/Getty Images
REDWOOD CITY, Calif. Video game publisher Electronic Arts (EA) says its CEO, John Riccitiello, will step down on March 30.
Electronic Arts says it has named Larry Probst as executive chairman while it searches for a replacement. Probst was CEO from 1991 to 2007, when Riccitiello took over. Probst has served as EA's chairman since 1994.
Separately, EA says its revenue and earnings per share will be at the low end or below its January guidance.
EA and other traditional video game companies have been trying to adjust to a changing world where consumers are turning to mobile devices and cheap or free online games instead of buying expensive packaged titles. Electronic Arts reported lower revenue for the last three months of 2012 than it did for the same period a year earlier.
Popular on MoneyWatch
- TGI Fridays nailed for doctoring booze
- Amy's Baking Company could face legal 'nightmare'
- Reverse cell phone lookup service is free and simple
- Top 10 professional life coaching myths
- Amy's Baking Company: Post-meltdown PR campaign
- The Donald prevails in fraud suit
- How Bernanke's testimony affects investors
- Turn off Windows 8 with one click