EA shares fall after Wilson named CEO
Electronic Arts stock value dips more than 3 percent after company appoints Andrew Wilson as new chief executive officer.
Shares of Electronic Arts fell more than 3 percent today, a day after the Battlefield and Mass Effect publisher announced that EA Sports veteran Andrew Wilson would take over as new CEO.
At press time, EA is trading down 3.4 percent to $26.63.
Wilson replaces John Riccitiello, who resigned from his post as EA CEO in March. Wilson will be paid an annual base salary of $800,000 in his new position.
In an interview with the Wall Street Journal, Wilson laid out his plans for the future of EA.
"When I think about our vision for the future, we have a very strong strategy around the ongoing development of the most amazing teams in the world," Wilson said.
"We have a tremendous pipeline of intellectual property, both current intellectual property and new intellectual property, and we have been making investments against our digital platform that in my vision for the company moving forward will really start to pay dividends," he added.
Wilson also spoke about his ambition for EA to "fail fast" going forward, meaning listening to consumer feedback and responding appropriately and quickly.
"The big thing about a modern digitally driven company that is operating at the edge of innovation to deliver unbelievably immersive experiences for our gamers is that you have to figure out what works and what doesn't very quickly, to ensure the consumers get the best of everything you make," Wilson said.
"And it is a culture and philosophy that will underpin how we go to market in the future to make sure we’re delivering experiences that live up to consumer expectations."
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