Electronic Arts CFO to leave company
NEW YORK (Reuters) - Electronic Arts Inc (ERTS.O) said on Monday that Chief Financial Officer Warren Jenson will leave the video game publisher, which is pursuing a hostile takeover of rival Take-Two Interactive Software Inc (TTWO.O).
Electronic Arts did not give details on the reasons for his departure, but said Jenson will stay on board to help the company close its fiscal year and financial reporting. A replacement will be named shortly, it said.
Jenson has served as CFO since 2002 and helped shepherd the company through a U.S. regulatory probe of the company's stock option grant accounting. The U.S. Securities and Exchange Commission ended its inquiry into the company's options practices in November, with no enforcement action taken.
Jenson said in a statement that it was "time for me to write the next chapter in my career."
Electronic Arts earlier this month took its $2 billion all cash bid for Take-Two directly to stockholders. Take-Two has resisted the bid, saying it doesn't account for expectations of a blockbuster debut for its fourth version of "Grand Theft Auto" on April 29.
In a regulatory filing, EA said it had reached a transition agreement with Jenson as of March 19, according to which he will remain a company employee through September 30 unless he chooses to leave beforehand.
EA shares rose 2.9 percent to $49.88 on the Nasdaq.
(Reporting by Michele Gershberg, editing by Dave Zimmerman)
