EA has announced that Codemasters‘ CEO Frank Sagnier and CFO Rashid Varachia are stepping down following the publisher’s acquisition of the studio earlier in the year.
The duo will leave Codemasters at the end of July. As per a statement released by EA, the duo’s departure was always part of the overall plan regarding the takeover, but things have been sped up due to the speed at which the British racing game group has been integrated into EA’s wider company structure following the completion of EA’s $1.2 billion acquisition of Codemasters back in February 2021.
“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,” EA said in a statement (thanks, GamesIndustry).
“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.”
The studio will now be grouped under the EA Sports umbrella, lead by Cam Weber, with SVP of publishing Jonathan Bunney stepping up to lead Codemasters specifically.
EA’s acquisition of Codemasters has been in the works for a while and EA even outbid Take-Two to get its hands on the iconic racing game developer. EA has previously said it will leave the studio to its own devices like it has with Respawn, too.