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EA has no plans to replace CEO John Riccitiello

7/29/12 9:20am

Earlier this month we posted a rumor suggesting the EA board of directors was planning to relieve CEO John Riccitiello of his current position and name EA Sports head Peter Moore as his replacement, during the company’s monthly earnings call.

We can now tell you that this isn’t going to happen.

During EA’s annual shareholders meeting, EA Chairman Larry Probst was asked if there was any truth to the rumor. Probst said EA has faith in Riccitiello and his management team and there is no current plan to find a new CEO.

"They've done a really good job of exceeding their operating plan in the last two fiscal years. We think the strategy is spot on going forward and we have a high level of confidence they will execute well against that strategy."

"At this point in time, there is absolutely no plan to replace John as the CEO. We have a high level of confidence in both him and the management team."

To be honest, I can’t say this surprises me. I know the rumor seemed “plausible” but EA has always backed Riccitiello’s decisions, so I can’t really see why the company would replace him.

Anyway, what do you think g1s? Is EA right to support him? Or do you think he should be replaced?  

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