Electronic Arts CEO to Resign in July

SAN FRANCISCO (Reuters) - Electronic Arts' Chief Executive Officer John Riccitiello has resigned, saying he was "accountable" for the company's missing operational targets.

Riccitiello will step down from his post as CEO and member of the board of directors on March 30, the video game company said on Monday.

Electronic Arts' stock climbed 1.5 percent to $19 in after-hours trade, from a close of $18.71 on the Nasdaq.

(Reporting By Malathi Nayak; Editing by Bernard Orr)

Separately, EA says its revenue and earnings per share will be at the low end or below its January guidance.

EA and other traditional video game companies have been trying to adjust to a changing world where consumers are turning to mobile devices and cheap or free online games instead of buying expensive packaged titles. Electronic Arts reported lower revenue for the last three months of 2012 than it did for the same period a year earlier. [Source]

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Another Retail Executive To Leave Apple

Apple's retail executives continue to abandon ship at an alarming rate. Late Tuesday, Apple confirmed that retail VP Jerry McDougal has announced his resignation from Apple.

The departure is, by all means, voluntary and amicable. McDougal says he simply wants to spend more time with his family. Unfortunately for Apple, McDougal had been on a short list of executives to replace John Browett, who exited the position of Apple's retail chief last October.

Apple spokesman Steve Dowling tells All Things D that Apple's VP of Finance Jim Bean will replace McDougal for the time being.

“Retail has an incredibly strong network of leaders at the store and regional level, and they will continue the excellent work they’ve done over the past decade to revolutionize retailing with unique, innovative services and a focus on the customer that is second to none," Dowling says. "Jim Bean is moving to Retail to help support our store teams. Jim has been at Apple for 15 years and is a great leader who understands our culture and focus on customer service.”

Initial reaction to the Bean promotion has been positive.

John Paczkowski of All Things D says "Bean has exactly the sort of operational acumen that would lend itself to the position McDougal’s departure leaves open." [ModMyi]

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