John Riccitiello Purchases Almost $1 Million in EA Stock
Looks like Electronic Arts CEO John Riccitiello is hoping against all hope that EA does eventually storm Take-Two’s impenetrable castle. That could only be his “true” reasoning behind him recently purchasing almost $1 million in EA stock the day after the publisher extended its offer to buy Grand Theft Auto firm Take-Two. Yes, I italicized that for a reason.
Riccitiello bought the 20,000 shares which equals to $976,000 in stock, and this is the second such purchase the CEO has made since rejoining the company in 2007 which means that he is banking on becoming even richer than ever before. Mwha ha ha ha!
“John believes that senior executives should be invested in the company,” a spokesperson for EA stated. Yeah, right. Sure it is only appropriate that a CEO own stock in the company they work for, but Riccitiello now owns 47,294 shares and approximately 75,000 exercisable options. That is a truck load of power right there. Plus, with the recent offer to Take-Two being on the table until June 16th, John better hope that his Voodoo Priestess pulls out all the stops for him oe else she will have to go back to peddling her wares to tourists on the streets of New Orleans.