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Summary:

As of April 2nd, Larry Probst, current CEO of Electronic Arts, will be stepping down and handing the title over to John Riccitello. Riccitello, an old-school EA’er is coming back after leaving his Chief Operations Officer and President job at EA in 2004 to co-found and […]

As of April 2nd, Larry Probst, current CEO of Electronic Arts, will be stepping down and handing the title over to John Riccitello. Riccitello, an old-school EA’er is coming back after leaving his Chief Operations Officer and President job at EA in 2004 to co-found and manage his own venture capital firm called Elevation Partners. Probst will stay on with the company as the executive chairman of the board of directors.

Starting as CEO in 1991, Larry Probst has ran EA for the last 16 years, and has been said to rely too heavily on sequels. Though Riccitiello leaves his job as the managing partner for Elevation Partners, a venture capital firm with $1.9 billion worth of financing power, for the captain’s chair of this multimedia giant, he might not have an easy time. This year EA is tasked with releasing Spore, Will Wright’s latest social experiment that has wow’d the media at several events but has questionable sales potential.

Though an exciting proposition for Riccitiello, no doubt, what could be the cause behind Probst stepping down? Is there something that we haven’t seen that’s going on at EA? For a company that makes as much money as Electronic Arts does, why would the highly successful CEO step down after 16 years on the job? Last year we saw a few serious drops in EA’s stock price and one has to wonder if that doesn’t have something to do with Probst stepping down. Since opening this morning, the EA stock (ERTS) has dropped 1.23 points from 53.19 to a current 51.96.

By Jason McMaster

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  2. Larry did an incredible job at EA. Personally, I think a CEO shouldn’t stay much beyond 10 years anyway. To continually provide the vision, direction, enthusiasm, etc for 16 years is a testimony to this man’s excellence. He made a *lot* of good moves during his tenure including the sequels which, though not glamorous, are incredibly important to a game company.

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  4. This man was not a visionary, he created the same game over and over again while pumping up the graphics. One good move that I can think of was acquiring Mythic while they are working on Warhammer Online. A working or at least fun and playable MMOG was beyond this company with this man at the lead, several tries and several failures means a loss to this company of millions. His time past a while back.

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  5. [...] of the news articles have stated that this is due to EA not developing enough new internal IP. Given the internal politics at EA, this is almost certainly not the only reason, but the rumblings [...]

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  6. Good..the last few EA games stunk…lol.

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  7. AMEN BIG SISTEr

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  8. I am a big fan of The Sims, but am always annoyed that EA is so stingy when it came to providing content – in terms of couches, wallpaper, appliances for Sims. Then 2 months later, they would come out with an expansion pack full of “stuff”. Examples of this are the Family Fun Stuff, Glamor Stuff….

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  9. [...] Larry Probst stepped down as the head of Electronic Arts. [...]

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  10. [...] read more | digg story [...]

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