EA stock rises to new high ahead of board appointment announcement
EA's stock has jumped two percent to hit its highest point in almost a year in anticipation of a potential new member of the board of directors.
EA's stock rose sharply yesterday to close at $24.41 ahead of an announcement regarding its board shuffle.
The publisher has agreed to allow Relational Investors to appoint its principal Ralph Whitworth to EA's executive compensation and leadership committee from mid-September.
Whitworth can then be named as a board member, and if elected, will be re-nominated for another year at EA's annual shareholder meeting.
Relational Investors now holds up to 6 million shares in EA, meaning it owns between 1.5 and 1.8 percent of EA's total stock. The investment advisor company is based in San Diego, and manages several high profile pension funds.
