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John Riccitiello Leaving EA

John Riccitiello is stepping down from his post as EA CEO effective March 30th, reports Polygon, saying he will be replaced on an interim day-to-day basis by Riccitiello's predecessor Larry Probst as they hunt for a permanent replacement. They have a copy of his resignation letter to the board, which suggests by its tone was requested. "This is a tough decision, but it all comes down to accountability," Riccitiello resignation letter reads. "The progress EA has made on transitioning to digital games and services is something I'm extremely proud of. However, it currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued in January, and we have fallen short of the internal operating plan we set one year ago. EA's shareholders and employees expect better and I am accountable for the miss."

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54. Re: John Riccitiello Leaving EA Mar 18, 2013, 20:54 Beamer
Total-Khaos wrote on Mar 18, 2013, 19:07:
Beamer wrote on Mar 18, 2013, 17:09:
Ok, he's getting 2 years salary as severance, plus "benefits." All in all not a huge parachute. He was making something like $5-$7 million per year, approximately, but the severance is just salary, so that's about $750,000 per year.

2 years salary, and $1.7MM, isn't enough to make me angry. I mean, it's not like I'm sitting here feeling extremely sorry for him, or thinking employees fighting tooth-and-nail for an extra half a percent raise should, but this isn't one of those deals where a guy is walking away with something ridiculous, especially relative to what he was earning.

His base salary, according to SEC filings dated 02/21/2007, was $750,000 plus a target bonus percentage of 100% of his annual salary. That means his total income per year, if EA met their targets, would be $1.5 million. That doesn't include stock options, etc.

Yup, but including stocks and such he made much more. There are articles about how he earned $7 million in 2008. Forbes says he got almost $6 million in 2011. And he seems to have received 129,000 stock shares every September, which currently adds up to over 2.4 million.
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