Thanks neo1980 for sharing this with us. No. 1 independent video game publisher Electronic Arts Inc. on Wednesday appointed Amazon.com Inc. former chief financial officer Warren Jenson as its own CFO, replacing long-time executive Stan McKee.
Jenson left Amazon in March, shortly after the online retailer reported its first-ever profitable quarter. At the time, he said he was looking for new challenges.
"It really for me was coming up with the right opportunity," Jenson told Reuters. "This fits really well with the knowledge I built up in the other places."
Before Amazon, Jenson, 45, served as the CFO of Delta Air Lines Inc. and of TV network NBC, a unit of General Electric Co.
News source: Reuters - Electronic Arts Names Former Amazon CFO as Its Own
Jenson left Amazon in March, shortly after the online retailer reported its first-ever profitable quarter. At the time, he said he was looking for new challenges.
"It really for me was coming up with the right opportunity," Jenson told Reuters. "This fits really well with the knowledge I built up in the other places."
Before Amazon, Jenson, 45, served as the CFO of Delta Air Lines Inc. and of TV network NBC, a unit of General Electric Co.
News source: Reuters - Electronic Arts Names Former Amazon CFO as Its Own
Redwood City, California-based EA said in June 2001 that McKee would retire at the end of its fiscal 2002 in March. That move was delayed while the company looked for his replacement.
Like other video game publishers, EA shares have been steadily climbing over the last year, as the industry embarks on what analysts have said will be a multiyear growth cycle, powered by new game consoles and growing mainstream acceptance of video games as an entertainment medium.
Shares in Electronic Arts closed up 2.3 percent at $63.75 on Nasdaq on Wednesday; the shares are up 6 percent for the year and were up 41 percent last year.
"It's just going to get nothing but better from here," Jenson said, arguing that the game industry would be the fastest-growing segment of the popular media in coming years.
Jenson also acknowledged the difficulties in becoming a chief financial officer in the current climate, with increased scrutiny from regulators on public companies as corporate scandals increase investor cries for accountability.
"The reality is that companies have always had an obligation to fairly disclose their results and do everything they can to help investors make investment decisions," Jenson said.
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