Codemasters CEO and CFO depart company four months after EA acquisition
1Codemasters’ CEO, Frank Sagnier, and CFO, Rashid Varachia, are set to leave the company.
The studio – who is behind games such as Dirt 5, F1 and Project CARS – was acquired by EA for $1.2 billion back in February and now EA has confirmed to GamesIndustry.biz that the pairs departures “have always been part of the plan” but has been sped up by how quickly Codemasters has been integrated into EA’s studios.
EA said in a statement: "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.”
Sagnier and Varachia will step down from their roles at the end of this month.
GamesIndustry.biz also reports that Codemasters will join the EA Sports umbrella, which is currently led by Cam Weber.
Going forward, Codemasters will be led by SVP of product development Clive Moody and SVP of publishing Jonathan Bunney.