Leading video game publisher Electronic Arts announced Wednesday that John Riccitiello, the company's president and chief operating officer, has resigned to start a private equity business. The resignation is effective immediately, EA said, but Riccitiello will remain with the company for a transition period, with CEO Larry Probst assuming his responsibilities until a successor is found.
EA has led the video games market the last few years, thanks to successful franchises such as its "Madden NFL" football games and an ongoing series of family games based on superstar wizard Harry Potter. The company is expected to post record sales and profit for the year when it reports results for its fourth quarter and the fiscal year late this month.