Back in February, EA officially closed its $1.2 billion acquisition of Codemasters, bringing the racing game specialists and all of its IP under the EA umbrella. Now that the acquisition process has finished, Codemasters’ CEO and CFO have both announced that they are leaving the company.
Frank Sagnier and Rashid Varachia are both leaving their respective roles as CEO and CFO of Codemasters. According to EA, these two executives had planned to step down from the studio some time after the acquisition. However, the transition period has gone quicker than expected for Codemasters, meaning both could leave their roles a bit earlier than expected.
While Codemasters is losing its CEO and CFO, subsidiary studio, Slightly Mad, which was also acquired by EA, is retaining its current CEO, Ian Bell. However, Slightly Mad’s SVP of development and SVP of publishing will be moving to Codemasters in leadership roles.
After acquiring Codemasters, EA CEO, Andrew Wilson, stated that the publisher hopes that it will now have the resources to release a racing game every year.
KitGuru Says: Codemasters is officially an EA studio now, so some leadership changes were expected. Now we’ll just have to wait and see what game Codemasters will be working on first under its new publisher.