Electronic Arts Flips the Script: New CFO and Studio Shake-Up
It was recently announced that Electronic Arts (EA), a big name in the video game industry, is set to undergo some major changes. The company’s newly appointed Chief Financial Officer (CFO) is starting an ambitious restructuring plan, and hiring a number of new studio heads. These changes have stirred up controversy and generated mixed reactions from both investors and gamers.
The move to hire a new CFO is mainly a response to the company’s financially difficult past year. EA’s E3 2018 press conference left a lot to be desired, with very few new games being announced. This resulted in many fans feeling slighted and caused EA’s stock prices to take a hit. It’s clear that the company needs to make some serious adjustments in order to regain its financial footing.
EA spent the next few months searching for a new CFO, eventually choosing Larry Heckman. He’s no stranger to the gaming business, having held senior positions at both Konami and Capcom. His hiring was made with the intention of leading EA’s restructuring initiative and making the company profitable in the long run.
The next step in this plan is to reconfigure the company’s personnel. That means hiring new studio heads and changing the way EA does business. The company is also looking to get back into the publishing industry, after having lost ground over the past few years. Additionally, Larry Heckman is expected to put in place long-term strategies to get revenue streams back on track.
Despite these promising changes, there are some concerns from investors and gamers. Those who have been following EA’s recent history may be worried that the new CFO may take the company down the same path as their previous attempts. Others may feel that the new changes are unnecessary or even anti-consumer in nature.
Ultimately, only time will tell if Electronic Arts’ new executives and strategies can turnaround the company’s fortunes. Some may remain skeptical, while others may embrace the changes with optimism. Either way, the video game industry will be watching closely to see the outcome.