Riccitiello remains as EA CEO

Board has 'high level of confidence' in management team
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Reports that CEO John Riccitiello would be replaced were squashed at the EA shareholders meeting today.

The rumor circulated earlier in the month, after analyst Michael Pachter told an audience at the Develop Conference in Brighton that the CEO feared for his job.

"The board has a very high level of confidence in John and the management team," said EA chairman Larry Probst.

"They have done a really good job of exceeding the operating plans in the last few years."

"We take a look at the management team on a regular systematic basis and we talk about succession planning in the longer terms. At this point in time there is no plan to replace John Riccitiello as CEO."

The announcement comes with less than a week before the publisher unviels its Q1 earnings report on Tuesday.