Close
Report Comment to a Moderator Our Moderators review all comments for abusive and offensive language, and ensure comments are from Verified Users only.
Please report a comment only if you feel it requires our urgent attention.
I understand, report it. Cancel

EA paying Probst $1.03 million

EA paying Probst $1.03 million

Mon 01 Apr 2013 3:20pm GMT / 11:20am EDT / 8:20am PDT
BusinessPeople

Interim executive chairman getting seven-figure salary while publisher searches for CEO successor to Riccitiello

Electronic Arts executive chairman Larry Probst will helm the publisher as it finds a replacement for recently resigned CEO John Riccitiello, but the experience of the longtime board member and Riccitiello's predecessor as CEO won't come for free. As reported by GameSpot, an EA filing with the Securities and Exchange Commission last week revealed that Probst will be paid an annualized salary of $1.03 million for the duration of the search.

Additionally, when Probst's stint as executive chairman is over, the Board of Directors has the option to award him an additional one-time discretionary bonus for his work. Probst himself will abstain from that discussion, and he is also foregoing his board of directors cash retainer fees (which were $100,000 for the company's fiscal 2012) for the duration of his term as executive chairman.

While Probst's standard annualized compensation tops Riccitiello's base salary of about $865,000 from fiscal 2012, it falls far short of the former CEO's complete compensation package. Last year that included a $1.5 million performance-based bonus payout, $4.35 million in performance-based stock awards, and $2.8 million in retention-based stock awards, for a grand total of $9.51 million.

Probst has been involved with EA since 1984, serving as CEO from 1991 until 2007, when he turned the reins over to Riccitiello. He has been chairman of the board at EA since 1994.

3 Comments

Paul Jace Merchandiser

955 1,449 1.5
They should let me do it. All I'd ask for is a mere $400,000.....after taxes. They can keep that other money to do whatever they like.

Posted:A year ago

#1

Michael Bennett Senior Designer, The Creative Assembly

39 12 0.3
Jason Rubin anybody?

Posted:A year ago

#2

Bruce Everiss Marketing Consultant

1,692 594 0.4
Will he even notice $1.03 million?

Posted:A year ago

#3

Login or register to post

Take part in the GamesIndustry community

Register now