Electronics Arts president resigns
In a surprise move, John Riccitiello, the high-profile president of video-game maker Electronic Arts, will leave the company to set up a private equity fund to pursue buyouts and other investments in media companies, reports USA Today.
Riccitiello will immediately resign from the company, which has thrived under his leadership and is now the world`s largest maker of video games.
Riccitiello is credited with bringing marketing savvy to the company and helping accelerating the connection to Hollywood. He was part of a management team that pushed Electronic Arts to acquire licenses for several key movie franchises including James Bond.
The Redwood City, Calif., company said that chairman Larry Probst will assume Riccitiello`s duties while Electronic Arts evaluates candidates.
In a statement Probst thanked Riccitiello for his "tremendous contribution" to Electronic Arts.
Electronic Arts hold the licence to create Bond games for MGM Home Entertainment until 2010.
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