Job News

Codemasters CEO Frank Sagnier will step down, four months after EA acquisition

Rashid Varachia will step down at the end of July as well

Codemasters CEO Frank Sagnier will step down, four months after EA acquisition

EA has confirmed that Codemasters CEO Frank Sagnier will depart the firm four months after the the company was acquired.

As confirmed to in a statement, Sagnier will step down from the position at the end of July. Additionally, EA has revealed that Codemasters chief financial officer Rashid Varachia will leave his role simultaneously too.

Codemasters will become part of EA's Sport umbrella, while Codemasters current senior vice president of publishing Johnathon Bunney and senior vice president of product development Clive Moody will now lead the company going forward.

Sagnier signs off

"Since joining in 2014, Frank has led Codemasters to a position as a globally renowned studio of racing experts, and enabled their world-class talent and passion for motorsports to shine and excel on a global stage," said EA in a statement.

"Rashid’s financial leadership has also been integral to Codemasters’ success, his contributions include driving key acquisitions, listing on the stock market back in 2018, and leading the due diligence and integration of Codemasters into EA."

Sagnier commented on the decision (via LinkedIn) saying: "After seven incredible years at Codemasters and following the sale of the company to Electronic Arts a few months ago, I decided it was the right time to step down. This extraordinary ride would not have been possible without Codemasters’ talented and passionate employees."

Last month, EA picked up UK mobile games developer Playdemic from Warner Bros. for $1.4 billion.

Meanwhile, EA's mobile revenue for its fiscal fourth quarter of 2021 came in at $174 million, a seven per cent revenue drop over the previous year. 

News Editor

The man formerly known as News Editor.