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EA President Resigns

John Riccitiello, president of Electronic Arts and the company’s number two executive, has announced his resignation, saying that he plans to join a private equity fund h...
John Riccitiello, president of Electronic Arts and the company’s number two executive, has announced his resignation, saying that he plans to join a private equity fund headed by veteran investor Roger McNamee. CEO Larry Probst has said in a statement that he will temporarily assume Riccitiello's responsibilities but that Riccitiello will remain at the company for a transition period. Riccitiello, in an interview, said he believes the media and entertainment industries are ripe for investment and consolidation. He added that the new fund, which is in the midst of raising a large sum of money, could launch buyouts or do other deals. Source: SiliconValley.com

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