Electronic Arts Chief Resigns - John Riccitiello, who became chief executive in 2007, fell victim to internal errors and falling sales of traditional video games as consumer tastes changed. "“E.A. is the face of the gaming industry at a time when the market is in some important ways going sideways if not downhill,” said Lewis Ward, research manager for gaming at IDC. “It has been outperformed by some smaller and more nimble companies.” Larry Probst, the company’s chairman and former chief executive, will run Electronic Arts until a new chief executive is found. The news, released after the market closed, pushed shares up by nearly 3 percent in after-hours trading. But after the market opened Tuesday, the shares fell sharply. In midday trading, they were down 8 percent from Monday’s close. E.A.’s shares had increased sharply in recent months on the promise of new gaming consoles from Sony and Microsoft. “E.A.’s strategy and future are rock solid,” Mr. Probst wrote on Monday in a post on the company’s blog. But the company simultaneously said it was less optimistic about its revenues and earnings for the current quarter than it was only six weeks ago. . . . " Read more at: http://www.nytimes.com/2013/03/19/technology/electronic-arts-chief-resigns-sending-stock-up.html?smid=pl-share
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