EA chairman Larry Probst stepping down

Long-standing chairman of Electronic Arts, Larry Probst, is due to retire from the role this year.

In a recent filing spotted by Seeking Alpha, Probst stated that he's decided to not stand for re-election at the company's annual meeting.

His decision to stand down was "not the result of any disagreement with management of the board".

Probst has been on EA's board of directors since 1991, and has served as chairman since 1994.

Following his departure, the number of people on the board will drop from nine to eight while succession planning takes place.

The board has selected Andrew Wilson to take over the chairman role, while lead independent director Luis Ubiñas will continue in his role for an additional two-year term.

EA's full year revenues were up by 2% to $5.63 billion in 2020. The company pulled in particularly strong figures in Q4, fueled by live services and the success of Apex Legends.