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Electronic Arts CEO Stepping Down; Outlook Guidance Lowered

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John Riccitiello, Chief Executive Officer, Electronics Arts, speaks during a news conference at the unveiling of the new game console Wii U by Nintendo at the Electronic Entertainment Expo on June 7, 2011 in Los Angeles. (Kevork Djansezian/Getty Images)

John Riccitiello, Chief Executive Officer, Electronics Arts, speaks during a news conference at the unveiling of the new game console Wii U by Nintendo at the Electronic Entertainment Expo on June 7, 2011 in Los Angeles. (Kevork Djansezian/Getty Images)

REDWOOD CITY (CBS/AP) — Video game publisher Electronic Arts says its CEO, John Riccitiello, will step down on March 30.

Electronic Arts Inc. says it has named Larry Probst as executive chairman while it searches for a replacement. Probst was CEO from 1991 to 2007, when Riccitiello took over. Probst has served as EA’s chairman since 1994.

Separately, EA said its revenue and earnings per share will be at the low end or below its January guidance.

EA and other traditional video game companies have been trying to adjust to a changing world where consumers are turning to mobile devices and cheap or free online games instead of buying expensive packaged titles.

Electronic Arts reported lower revenue for the last three months of 2012 than it did for the same period a year earlier.

 

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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