EA’s chief financial officer leaves; analyst worried for stocks
Posted by: admin in Video Games
Let’s not forget that the world of video gaming is still an industry and that companies in an industry are powered by their stockholders. Which is why this latest news may prove to be a precursor for something bigger in Electronic Arts‘ future.
A few days ago, EA’s Chief Financial Officer Warren Jenson left the company, which has UBS analyst Ben Schachter worried. The concern stems mostly from the timing of his departure, considering how EA is still in the middle of an industry drama.
Currently, the industry is pegging EA to proceed onto a hostile takeover of Take Two Interactive. Rumor even has it that they purchased a popular Grand Theft Auto fan forum. Given their recent position, Schachter believes that Warren’s departure will “raise eyebrows”:
We think CEO John Riccitiello is the driving force behind this deal, though the timing here is unnerving and will likely raise questions with investors. […] We think the unexpected timing will raise eyebrows and the co’s risk profile.
He does go on to say, however, that Warren’s departure won’t affect the company in the long-term. For now, this development means tiny for us gamers. However, we might take it as an indication that there’s something brewing over at EA.
source pc.qj.net
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