shikamaru317 on 13 September 2023
coolbeans said:
Actually, it's another popular name from a bygone era: EA's old CEO John Riccitello. |
For anyone who doesn't remember him, Riccitello is the same clown who suggested charging players real money to reload their gun in a shooter. Some of the highlights of his 6 year reign as CEO of EA.
- Their stock lost nearly 5/6ths of it's value over the 6 years he was CEO, from 61 a share at the highest point of his reign soon after he became CEO, down to 11 a share at the lowest point of his reign
- 3 different rounds of layoffs in 2008, early 2009, and late 2009, between the 3 amounting to more than 30% of their workforce laid off
- Attempted to buyout Take-Two for $26 a share, a 64% premium over their value at the time, then later backed out of acquisition after their financials became so poor they could no longer afford the buyout
- The creation of EA's Origin client as a competitor to Steam, which subsequently flopped so hard that it made Epic Games Store look like a successful Steam competitor by comparison
- Was either directly or indirectly responsible for the closing of more than 20 facilities, about 10 of which were complete studio closures, including Pandemic and Danger Close Games
- Asked by the board of directors to step down in 2013 after repeated poor financials
The fact that a CEO this awful was able to find Executive work first at Oculus and later at Unity, is a testament to how shitty the business world is.
Last edited by shikamaru317 - on 13 September 2023
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