EA shares tumble after CEO resignation
Shares slumped 8.3 percent Tuesday following John Riccitiello's announced departure from FIFA, Battlefield publisher.
Shares of Electronic Arts tumbled Tuesday, following Monday's announcement that six-year CEO John Riccitiello had resigned from the publisher.
At market close yesterday, EA's stock value was down 8.3 percent to $17.15, after news that the executive would leave effective March 30.
The market opens today at 9:30 a.m. EDT.
Riccitiello explained in his resignation letter that EA has "fallen short" of the internal operating plan set one year ago. "EA's shareholders and employees expect better and I am accountable for the miss," he said.
As part of Riccitiello's separation agreement with EA, he will continue to draw a salary for 24 months and maintain vesting of unvested options until Nov. 30, 2013, with those stock options exercisable until Feb. 28, 2014.
According to The Wall Street Journal, Riccitiello's total exit package is valued at around $4.7 million, though this figure could balloon further if EA stock bounces back.
Senua's Saga: Hellblade II Everything To Know The Rogue Prince of Persia - Official New Release Date Gameplay Trailer MultiVersus – Official The Joker Gameplay Reveal Trailer | “Send in the Clowns!” 15 MORE Things You STILL Didn't Know In Zelda Tears Of The Kingdom Firearms Expert Reacts to Ghost Recon Breakpoint's Guns Xbox Studio Closures Are Confusing | Spot On Genshin Impact - Cutscene Animation "Arataki & Flying Lavender Melon's Rockin' for Life Duet" Gray Zone Warfare | Community Briefing Trailer #1 Squirrel With A Gun - Official Announcement Gameplay Trailer Night Slashers: Remake || Official Christopher Smith Character Gameplay Trailer Senua's Saga: Hellblade II - Senua's Psychosis Feature Trailer Street Fighter 6 - 8 Minutes of Akuma Gameplay (High-Level CPU)
Please enter your date of birth to view this video
By clicking 'enter', you agree to GameSpot's
Terms of Use and Privacy Policy
Got a news tip or want to contact us directly? Email news@gamespot.com
Join the conversation