14 DAY TRIAL // The stock of video game publisher Electronic Arts is rising in late trading after Chief Executive Officer John Riccitiello has announced that he is resigning from the company effective March 30.
This might not be a direct result of the change of executives as the stock of the company has already seen a solid increase during the first few months of 2013, from below 14 dollars (10.81 Euro) to close to 19 dollars (13.8 Euro) for one share.
It will be interesting to see how the market reacts when the company announces the official financial results for the most recent fiscal year.
In his resignation letter, John Riccitiello stated, “it currently looks like we will come in at the low end of, or slightly below, the financial guidance we issued in January, and we have fallen short of the internal operating plan we set one year ago.”