The Timing of EA CEO John Riccitiello’s Resignation is interesting

John Riccitiello resigned from his position as the CEO of Electronic Arts.

The reason given for that was he felt accountable for the poor performance of the company in this fiscal year. They won’t be hitting the targets they set one year ago.

He was appointed as the CEO of EA in 2007 and previously served at the same position. Larry Probst has been appointed the executive chairman by the company’s board while the board searches for a permanent CEO.

“We thank John 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,” Mr. Probst said.

“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. 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 also had some things to say about his departure from the company.

“EA is an outstanding company with creative and talented employees, and it has been an honor to serve as the Company’s CEO,” he said.

“I am proud of what we have accomplished together, and 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. I remain very optimistic about EA’s future — there is a world class team driving the Company’s transition to the next generation of game consoles.”

Meanwhile a new Battlefield game will be announced on March 26, so people will most likely forget about the SimCity fiasco.