Shares slumped 8.3 percent Tuesday following John Riccitiello's announced departure from FIFA, Battlefield publisher.
Shares of Electronic Arts tumbled Tuesday, following Monday's announcement that six-year CEO John Riccitiello had from the publisher.
At market close yesterday, EA's stock value was , after news that the executive would leave effective March 30.
The market opens today at 9:30 a.m. EDT.
Riccitiello explained in his resignation letter that EA has "fallen short" of the internal operating plan set one year ago. "EA's shareholders and employees expect better and I am accountable for the miss," he said.
As part of Riccitiello's separation agreement with EA, he will continue to draw a salary for 24 months and maintain vesting of unvested options until Nov. 30, 2013, with those stock options exercisable until Feb. 28, 2014.
According to , Riccitiello's total exit package is valued at around $4.7 million, though this figure could balloon further if EA stock bounces back.
More in www.gamespot.com »
Tags: Mario, Arts, Electronic, Electronic Arts, Battlefield, John, Riccitiello, John Riccitiello, According, CEO John
Comments:
