Tue, Apr 02, 2013 | 10:13 BST
EA’s temporary executive chairman is making $1.03 Million a year
EA’s interim executive chairman Larry Probst is keeping the throne warm after John Riccitiello’s departure from the company last month. He will make $1.03 a year in the role until a suitable heir can be found. Our money’s on Peter Moore.
First, some perspective.
Riccitiello left the company after accepting accountability for EA’s slumped financials. We reported on the matter here.
However, outspoken Wedbush Morgan analyst Michael Pachter suggested that Riccitiello’s hand was “clearly” forced by the EA board and that he was pushed before he could walk. Read what he had to say about the matter here.
So, for a company that had its CEO ousted as a result of slumping financials, does such a high wage make sense? let us know below.
Meanwhile, the WSJ reports that Riccitiello’s severance package is worth $4.7 million including unused health insurance and payments pending.