February 26, 2007 - Today Electronic Arts announced Larry Probst is stepping down after serving as CEO of the world's largest videogame publisher for 16 years. His successor, John Riccitiello, former EA President and COO, will assume CEO duties and join the board of directors April 2, 2007. Larry Probst will continue full-time as Executive Chairman of the board of directors.

An EA representative told IGN, "There are a lot of champagne corks popping at EA right now." Riccitello was apparently popular during his previous tenure at the company, having served during a period of "dynamic growth" and being responsible for helping EA grow "beyond sports." When he left in 2004, Riccitiello co-founded the technology and entertainment venture capital fund Elevation Partners with Bono. Elevation has since added BioWare and Pandemic to its portfolio.

Larry Probst has been with EA for 23 years, and has served as CEO for 16.

Thanks to IGN.com for sharing the news with us!