Wedbush Morgan’s Michael Pachter has told VG247 he believes EA CEO John Riccitiello is the right person to lead the firm, through its current economic quagmire, but only on his earnings call performance last night.
“I think that the John Riccitiello who spoke last night is definitely the right person,” said the analyst.
“The Riccitiello who was aloof and unconcerned on prior earnings calls was the wrong person.”
EA announced a shocking $641 million loss for the three months ending December 31 yesterday, but Pachter told us today that Riccitiello’s admission of failure – as well as the fact he’s a “bright guy” – means he’s got what it takes to stay on top.
“In my view, he’s a bright guy with a ton of experience and is sufficiently conscientious to lead the company,” he said.
“All that was lacking was the desire to balance between future growth and current success (requiring recognition that the prior strategy was misguided), and the man who spoke yesterday sounded self-aware, accountable, and determined to get the job done.”
For all the news from the financial release, hit this.