Codemasters' CEO, Frank Sagnier, and CFO, Rashid Varachia, are departing from the company just four months after EA's acquisition.
It's being said that it was planned ahead of time that they would be leaving... How much was the severance check for selling the company away?
You forgot this part. “However, their departure from Codemasters was sped up after EA acquired the company and integrated it into its pool of studios.“ Can’t say I blame them. Maybe they’ll start up a new studio down the road.
My guess is that they'll be on a long vacation. An island maybe.
Normal, they get money and leave for other things… who wants to be under ea anyway?
EA is where formally great studios go to die... :( I'd do anything to return to an independent Bioware in the midst of making KOTOR, Jade Empire and Mass Effect right in a row...
Yeah, this is nothing to do with big bad evil EA. When a company is acquired, there are certain positions that will naturally become redundant. Codemasters no longer need a Financial or Managing Director because that will now be handled by their parent company. This would have been known by the individuals beforehand and presumably they would have had shares and were well compensated via the buyout. This is normal.
Yeah because EA bought them out and filled the spaces themselves so how is it not EA’s fault had they not bought out the company the guys would still work there 🤷🏻♂️🤣 sure it’s their choice but it’s come about due to EA takeover and that’s on no one but EA 🤣 don’t defend em they’ll still gladly rip you off with legacy editions every 12 months😑🥴ԍ 15;
I am not defending them... I just have an understanding of how a takeover works. EA didn't "fill the positions themselves". EA already have a CEO, CFO and COO, they don't need more. These guys would have been on the CM board and thus were part of the decision to sell to EA in the first place. Them stepping down would have been part of the deal as their roles are duplicated elsewhere.
The fail in your comment was assuming I didn't know about mergers and takeovers. I don't need a class. Or the occurrence of redundancies of two equal positions. I'm well aware of what occurred(PDF) https://www.codemasters.com... Then, you turn around after all that hot air and end up saying exactly what I said. "They were well compensated." Meaning: they knew ahead of time of their departure. And, they are receiving money for leaving. That's sounds like a *CHECK* for selling the developer.
Yeah its kinda tradition for the top brass to stay back for a few months to help with a smooth transition. Nothing unusual
They know Ea is shady so they jump ship 4 months in advance.
Nah, EA probably has no need for them in the roles they filled beyond transition. Most likely was well know. Maybe not though, who knows.
Why do people sign with EA knowing their history?
A payday and retirement
If EA gave you a hundred thousand dollars would you hand over whatever your working on and leave your job?
It was much much more than that but the answer is YES.
It’s called cashing out… then when they fancy it they’ll start a newer probably better company and start it up again.
Sorry, got a small flashback https://n4g.com/news/241782... So they were fired because EA listened to Codemasters team? Or because they forced them to leave? Because in the interview (link to article i provided above) former CEO Frank Sagnier says this: «The good news is, it’s been way faster than I anticipated. We are in the process of integrating. And I could tell you that within just two months, it’s amazing how much we’ve integrated so quickly. And in all departments. It’s like the glove fits perfectly, like we found our Cinderella shoe, it is a perfect fit!» You know, it doesn't look like he's aware that he'll be fired
I think that was just PR to try ensuring investors, gamers, whatever, that EA is somehow a good thing for Codemasters. Nothing more than encouraging words painting EA and the process is good light. side note: While I don't doubt that some extra cash toward projects would've benefited some Codemasters games I don't see that changing just because EA now owns them. If anything they'll be a remnant of themselves w/in 5-10 or so years. All that's guaranteed is RIP Codemasters.
Yep I’ll get one of the F1 games probably next years and that’ll be me and codemasters done EA can Do one but I do really want a proper next gen F1 game 🤣 problem I have with buying them currently is the season schedule isnt fixed and keeps changing ie they won’t have the correct season of races in the game 😏🙄🤷 27995;♂️✌🏻😜
I interpret it the opposite way honestly, now I understand why he was so geeked in the media despite his team being washed and put on Battlefield development lmao that golden parachute was coming
Can't say I'm surprised
Now the question is how many more will leave Codemasters after them and then the studio will be shut down because they're not performing to EA's standard?
I think they simply reached their end goal of making millions of dollars and not having to work anymore.
EA didn’t buy them they bought the IPs.
And so it begins EA will slowly poison Codemasters where no one will be left.
So that’s what EA stands for. Everybody Absconds 🥴😑🤣 personally can’t blame them I know if EA we’re taking over my company I’d be off. Seen it too many times… still upset about timesplitters 3 🤗🥴😜
The smart guys. Get out before it’s too late
The executives collect the money from the acquisition and ride off into the sunset leaving their coworkers and all the talent that made them rich worse off. Just typical of an EA or Activision acquisition.
Igaf just give me a motorstorm 1 remaster
I've got to be honest, the financial implications of the take over are not what concerns me. I'd be interested to hear of any EA acquisition that's improved under their leadership. 'Dirt,' indeed.
This is expected. Sadly, it is also expected that EA will ruin this company like they ruin everything.
N4G is a community of gamers posting and discussing the latest game news. It’s part of NewsBoiler, a network of social news sites covering today’s pop culture.