Thu, Jul 12, 2012 | 08:21 BST
Rumor – Moore to replace Riccitiello as EA CEO
Here’s a massive rumor for you: GameFront has been told by a source close to the matter EA CEO John Riccitiello will be replaced by EA Sports boss Peter Moore. The news is set to be announced after a July 30 earnings call.
Again, take this with a grain of salt for now, but if true, this is huge news.
The source stated that while Moore replacing Riccitiello was not set in stone, as the board has yet to vote on the matter, there’s a “general feeling of tension throughout EA’s studios,” due to the company’s falling stock prices. As of yesterday, stock in the company has hit a 52-week low yesterday.
Today, stock in the company is trading at $11.64 per share compared to $26.13 per share 52-weeks ago.
Riccitiello has been CEO of EA since 2007, after a a hiatus when he originally left his COO position at the firm in April 2004.
Since returning, Riccitiello has overseen the Origin platform and EA’s decision to focus on a digital direction, the later of which brought in over $1 billion in digital revenue during the firm’s 2011 calendar year.
Yesterday, there was a quote from analyst Michael Pachter floating around, in which he said during a lunch with Riccitiello, he expressed concerns over being “fired,” and was curious as to why the firm’s “stock had hit such a low point.”
Pachter clarified later that while this statement was true and he was “quoted accurately,” he was just “kiddng.”