Interim EA executive gets $1.03 million salary

Executive chairman Larry Probst receives seven-figure compensation while publisher searches for John Riccitiello replacement.

Electronic Arts will pay executive chairman Larry Probst an annual salary of $1.03 million while the Battlefield and FIFA publisher seeks a replacement for John Riccitiello, who resigned as CEO last month.

Federal documents also show that the EA Board of Directors may award Probst a one-time discretionary bonus at the end of his term, with the amount to be determined by the Board.

In addition to his new role at EA of executive chairman, Probst is a member of the Board. He abstained from the Compensation Committee's salary decision and will not receive any further cash retainer fees for his position on the Board while he is also executive chairman.

Probst has been in a leadership position at EA since 1991 and was CEO from 1991 to 2007. He is also the current executive chairman of the United States Olympic Committee and serves on the International Olympic Committee's International Relations Commission. Past positions include national sales manager at Activision and national accounts manager at Clorox.

Six-year EA CEO Riccitiello resigned from the company on March 18, citing a failure to meet financial milestones as his reason to move on. His separation agreement with EA includes 24 months of continued salary and other options worth an estimated $4.7 million.

Looking ahead, the EA Board will consider internal and external candidates to replace Riccitiello with the help of a "leading executive search firm."

According to one analyst, leading internal candidates for the position include current chief operating officer Peter Moore and EA Labels president Frank Gibeau. EA has set no timetable for when it plans to name a new top executive.

Written By

Eddie Makuch is a news editor at GameSpot, and would like to see the Whalers return to Hartford.

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Discussion

165 comments
dkeppens
dkeppens

Oh, the poor shlob, he's only got 4 jobs. And at least one without a salary ! How is he ever gonna make it to christmas ?

naryanrobinson
naryanrobinson

Yeah I hate EA but people who think this is bad would literally explode if they even started to get any kind of an idea of the amount of illegal money the suits in the shadows are able to make from your money in the banking system.

If everyone decided to take out all their money at once, they'd find about 50% of it missing.  It's literally been stolen.  Already.

They're relying on the fact that something like that doesn't happen for long enough, that by the time it does, it's impossible to trace who's taken it.  I'm talking multi-billion year bonuses taken from everyone's bank account all at once.  Stolen.

quantumtheo
quantumtheo

I just have to say it again, that guy is beyond creepy looking.... Was that head shot for a horror movie?

quantumtheo
quantumtheo

Wow..... ever seen the movie Happiness??? He looks JUST like the actor Dylan Baker (also in Fido and a bunch of other movies), one of the main actors in Happiness.... 


All I'm saying is this looks like the kind of guy who goes to Thailand for a 'tour'....... EA's execs really do look like the creepiest, sociopathic guys  on the planet....

carolino
carolino

not 1 cent of that was once mine

jhcho2
jhcho2

Look at him carefully. He's the devil. Back then when John Riccitiello resigned, people were forgetting that this was the guy Riccitiello was tendering his resignation to. I made a comment that this guy was the one pulling the strings behind the curtain. Now we get news that he received a 7 figure salary. I hate being right.

Aramantha
Aramantha

They wonder why they're the most hated company in gaming

Valen_Ca
Valen_Ca

Damn man, I wish I could've convinced every boss I have ever had to have given me 2 years continued salary after I left.

finalkain
finalkain

CEO of Activision brings in 27M before Bonuses and stock options. This guy is getting Chump change. Remember whos getting your money next time you play WoW or BF.

cubachino
cubachino

And this is why selling 3 million games isn't profitable. High salaries not lack of gamer support.

blutosan
blutosan

I hope he's a radical visionary.

macca366
macca366

Good for him, I'd take a million dollar salary if I could, any day of the week. 1.03 isn't that much for a CEO either, but he is just filling in till they get the real guy.

onikay
onikay

How many people could you hire into steady employment with that amount of cash.... rich get richer, poor & middleclass get poorer. Honestly, I wouldn't know what to do which such a load of money, then again.... I'm just a simple peasant who knows how to enjoy the simple things in life & without stepping over "corpses" to do it.

Blowing_for_Ps4
Blowing_for_Ps4

He has no idea what he is getting himself into, you couldnt get me to do that for a mill, this guy is gonna be hamburger when EA is done with him

Rattlesnake_8
Rattlesnake_8

Day 1 dlc, season passes, releasing the same game every year with a makeover each time and generally crapping on your customers every chance still can make you a million bucks a year.. wow.

Elann2008
Elann2008

1 million seems reasonable for what EA rakes in.  Actually, he makes less than most CEOs in the game industry and the business world.  

The real question isn't found here.. We should be asking how much will the John R. replacement get? x)

lowdan666
lowdan666

I´m disgusted nuff said !!!!!

raven449
raven449

Hey, re-releasing the same game every year with nothing added except a higher year number requires great vision and talent, and deserves to make more money then most games have in their entire budget.

Now excuse me,  i have to go back to playing Battlefield #47

Aletunda
Aletunda

Does he really 'need' all that money, I mean theres a crowd funded game right there

Timmy_Gwar
Timmy_Gwar

Business School = Success in the game industry

Business school grads, marketing minds = Poor quality game industry

Don't forget that Bioshock: Infinite was playable on day one and it is, even at average, an excellent example of a game. Meanwhile at EA...

SoreThumbsBill
SoreThumbsBill

Leeches like him are the reason why companies have to cut wages or fire hard working people.

2bitSmOkEy
2bitSmOkEy

No wonder it costs so much to make a game these days....

nurnberg
nurnberg

1 million per year to run a company into the ground.  Job well done sir!  Seriously?  Our economic system is rotten.

davidsworld3
davidsworld3

I give a shit why this guy is being paid for not doing his job?

SavoyPrime
SavoyPrime

For a CEO in the US, that is pretty low. I guess the fact that he is interim might be playing into that (or the fact that he gets money hand-over-fist from other avenues did).

oflow
oflow

why is this news?

commanderxp90
commanderxp90

$1.04 million is not enough to earn highest salary.  Good for him.  Many of CEOs video games beat him on the salary. HAHAHA! :D

Shielder7
Shielder7

And people wonder why EA is going broke.  In before they need our monyz to make gamez.

CaptainGamespot
CaptainGamespot

this is april fools joke! OMG OMG!

not. 

someone has to run the joint, why not an interim? 

Ghosthunter54
Ghosthunter54

1.03 mil isn't that much for a CEO in the US actually.

grbolivar
grbolivar

Those Day 1 DLCs and Season Passes and DRM are very profitable, no? ;)

Aramantha
Aramantha

@Rattlesnake_8 Exactly right

Ioriya
Ioriya

@raven449

"Now excuse me,  i have to go back to playing Call of Duty #47". 

Corrected.

tightwad34
tightwad34

@RubMyDucky Oh yeah, poor you. It must be hard to find enough to eat. And what about pro athletes making way more than that? Or actors who get payed way more to play make believe? Or is this another April fools joke?

Jawad2007
Jawad2007

@RubMyDucky what if your making 4 digit salary and sometimes you dont get anything for like 4 months with working 12 hours what possible the feeling you get then ?

Timmy_Gwar
Timmy_Gwar

@nurnberg It's cool. I figure the economy won't matter when we figure out that everyone works in finance.

Gears_0f_L0ve
Gears_0f_L0ve

@oflow Gamespot is banking on the EA hate and hot news, so that they can troll the readers.

frozenux
frozenux

@Ghosthunter54  yeah that's way below the current 10 million average for that type of company.

pwc2
pwc2

@jameswebster101 @Aletunda Not to totally defend the CEO's, but why is it okay if athletes, actors, singers, and politicians make big money but not businesses?

JimmeyBurrows
JimmeyBurrows

@pwc2 @jameswebster101 @Aletunda Athletes, actors and musicians provide people with entertainment... CEO's get payed for what other people do... And who the hell has ever agreed that polititions should make that much money?