Posted on July 27, 2012 AT 04:33am
Despite numerous calls for EA’s CEO, John Riccitiello, to step down, it appears that EA chairman Larry Probst still has faith in him as he announced that Riccitiello is going nowhere.
Reports were circulating that the CEO may be asked to step down because of declining stock prices, however during yesterday’s annual stock meeting Probst praised the management team saying, “The board has a very high level of confidence in John [Riccitiello] and the management team…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.”
In response to the rumors regarding the CEO being asked to step down Probst said, “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.”
If shares continue to fall at EA then someone is going to have to take the bullet, and despite having the chairman’s backing, the most likely candidate is Riccitiello.
Should Riccitiello be let go? Share your thoughts below.
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