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EA’s temporary executive chairman is making $1.03 Million a year

Tuesday, 2nd April 2013 09:18 GMT By Dave Cook

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.

Now then, Game Informer report that EA has published an SEC filing that reveals Probst’s $1.03 million wage. He is also eligible for a bonus at the end of his contract depending on how well he does.

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.

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16 Comments

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  1. G1GAHURTZ

    High wage?

    It’s a relatively small amount compared to EA’s turnover.

    Tbh, I’d be disappointed if I had that position, and ‘only’ earned $1m a year.

    Surely he has a whole load of stock options, and is in line for bonuses…?

    Just look at Kotick. He sold a few shares after MW2′s release, and made a quick $37m.

    http://www.geek.com/games/kotick-sells-more-activision-shares-makes-37-million-in-two-weeks-984691/

    #1 1 year ago
  2. Dragon246

    ^ Yeah. 1 million for a CEO is definitely not a big amount.
    Especially if you consider that’s one day salary of Apple CEO :)

    #2 1 year ago
  3. viralshag

    I have to agree with #1, for a company as large as EA $1m a year (USD too) seems extremely low for that position. There must be bonuses involved.

    I don’t even think Riccitiello’s $5m is much of a payout.

    #3 1 year ago
  4. redwood

    some more perspective :
    http://www.forbes.com/profile/robert-kotick/

    and a more awkward unrelated perspective

    http://www.dailymail.co.uk/sport/football/article-2239727/Top-30-best-paid-football-managers-world–Sir-Alex-Ferguson-England-boss-Roy-Hodgson-Jose-Mourinho-tops-list.html

    #4 1 year ago
  5. TheBlackHole

    Agree with all the above. $1m for a CEO position in a company this big is actually a relatively low wage.

    That’s only £660k. Nice wage, but that’s also HUGE responsibility.

    #5 1 year ago
  6. redwood

    also note the bonuses :)

    #6 1 year ago
  7. viralshag

    That’s it, in perspective of so many other positions of “power” this seems like peanuts.

    #7 1 year ago
  8. Francis O

    He’s lucky to even be making that much, nobody at EA deserves to make that much money.

    #8 1 year ago
  9. roadkill

    F**king a**holes! These are the people that end up with the money while “letting go” creative minds and closing down studios.

    #9 1 year ago
  10. viralshag

    What they should do is never fire anyone, or shut down studios, or let anyone go. In fact they should just keep hiring people until they don’t earn enough money to pay everyone so the entire company shuts down and EVERYONE loses their job anyway.

    That sounds like the much more honourable way to do business.

    #10 1 year ago
  11. sh4dow

    @1: If $1M is low, then artists, programmers and all other staff actually producing what EA sells should refuse work until they get at least $2M each.

    Scratch that, any company owner/manager/whatever should generally never make more than maybe twice as what the highest paid “producing employee” makes.

    #11 1 year ago
  12. viralshag

    @11, You’re right! They should refuse to work. That way they can lose their jobs and all the other people looking for a job in the games industry can replace them and have a go.

    I think that’s a brilliant idea.

    #12 1 year ago
  13. G1GAHURTZ

    http://www.joystiq.com/2012/04/03/2011s-game-industry-salary-stats-push-us-once-more-toward-busin/

    #13 1 year ago
  14. viralshag

    @13, Yeah but you’re forgetting the pressure of crunch time and the fact you have to work for evil overlords! Not to mention the fact you’re forced to work on shit games!

    You’re probably paid so much to keep you there, working for these evil EVIL people!

    How do I sound?

    #14 1 year ago
  15. G1GAHURTZ

    Like someone who’s never worked in the games industry?

    #15 1 year ago
  16. DSB

    I’m not sure you’re parodying it as much as you might think viral.

    I think this goes here: http://trenchescomic.com/

    Not for the comic, but for the pretty hilarious/sad stories from the industry.

    #16 1 year ago