EA Has No Plans To Replace CEO Riccitiello

by Jim Reilly on Jul 26, 2012 at 12:48 PM

With a sinking stock price there are rumblings that Electronic Arts could replace CEO John Riccitiello. Earlier this month, GameFront posted a rumor suggesting COO Peter Moore would replace Riccitiello after the company's earnings call at the end of this month. That doesn't appear to be the case.

EA Chairman Larry Probst was asked about the possibility of replacing Riccitiello during today's annual stockholders meeting. "The Board has a very high level of confidence in John [Riccitiello] and the management team," Probst says. "They've done a really good job of exceeding their operating plan in the last two fiscal years. We think the strategy is spot on going forward and we have a high level of confidence they will execute well against that strategy."

Probst noted that all senior management positions are looked at on a regular basis, but there are no plans to find a new CEO right now. "At this point in time, there is absolutely no plan to replace John as the CEO. We have a high level of confidence in both him and the management team."