EA has announced the departure of Codemasters CEO Frank Sagnier and CFO Rashid Varachia.
The announcement comes just months after EA’s $1.2bn acquisition of Codemasters and its subsidiary Slightly Mad Studios in February.
The pair will be stepping down from their roles in July, and it was revealed in a statement that their departure had “always been part of the plan.”
The Codemasters studios and Slightly Mad Studios will join the EA Sport umbrella, under the leadership of Cam Weber. Slighty Mad Studios’ CEO will remain in his position, while Clive Moody (SVP of product development) and Jonathan Bunney (SVP of publishing) will now lead Codemasters.
“Today EA has announced that Frank Sagnier and Rashid Varachia will be stepping down from their respective roles as CEO and CFO of Codemasters at the end of July,” said EA in a statement. “Their choice to leave the business now has been enabled by the speed at which we are moving with the integration of Codemasters into the EA family, and has always been part of their plan.
“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. 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. We are incredibly thankful to Frank and Rashid for everything they have done for Codemasters and Electronic Arts, and we all wish them the very best. We know the culture they have created and their innovative spirit will very much live on at the studio through their outstanding leadership team.”
“Importantly, Codemasters will continue to operate as their own studio. This will see Codemasters keep their world-leading expertise and passion for racing and motorsports alongside the culture of the studio that Frank has so successfully defined over his tenure, while also unlocking new opportunities working with our EA teams. We’re excited for what the future holds for racing and sports fans around the world.”
