Company: Electronic Arts (EA)
Share Price Change in 2012: -29%
Riccitiello joined EA as CEO in April 2007, and the game company's fortunes have run very much downhill since then. EA shares are off more than 75% in the past five years, and it had a combined net loss of almost $2.5 billion over fiscal years 2008, 2009, 2010 and 2011.
During the most recently reported quarter, revenue fell from $715 million to $711 million. EA's net loss was $381 million compared to a loss of $340 million in the same quarter a year earlier. Wall Street was further disappointed by the company's outlook for the next quarter.
The case against Riccitiello is easy to make. He has been unable to move a significant share of the company's revenue to new social media and mobile platforms -- where the action in the gaming business is . In July, 2011, EA bought PopCap Games for $650 million plus earn outs to move further into the social game and smartphone sectors. It bought Playfish in November 2009, paying as much as $400 million, to reach the Facebook online game sector. But EA continues to be flanked by companies such as Zynga Inc. (ZNGA), and its revenue does not show that it has made much progress with its diversification efforts beyond legacy platforms like game consoles.