Electronic Arts CFO to leave company

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Posted on ZDNet News: Mar 24, 2008 4:33:00 PM

Electronic Arts on Monday said Chief Financial Officer Warren Jenson will leave the video game publisher, which is pursuing a hostile takeover of rival Take-Two Interactive Software. Electronic Arts did not give details on the reasons for his departure, but it did say Jenson will stay on board to help the company close its fiscal year and financial reporting. A replacement will be named shortly, the said. Jenson has served as CFO since 2002. He 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 has 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.