Electronic Arts CEO Andrew Wilson Sees 2023 Pay Package Rise to $20.7M

Alex Weprin
·2 min read

Amid rumors about future M&A involving the company, Electronic Arts CEO Andrew Wilson saw his fiscal 2023 compensation package rise slightly to $20.7 million.

That’s up from $19.9 million in fiscal 2022, but still down significantly from the more than $39 million he earned in 2021 (that year, shareholders voted no on the company’s “say on pay” rule, leading to more modest compensation packages).

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Other top EA execs also saw modest pay bumps, with CFO Chris Suh earning a package worth $9.1 million, up from $8.2 million a year ago, and COO Laura Miele earning $10.8 million, up from $10.4 million.

The company disclosed the pay packages in its annual proxy filing.

Suh is stepping down from the company at the end of the month, with Stuart Canfield set to replace him as CFO. The company also announced a reorganization under two divisions: EA Entertainment and EA Sports. As part of the reorg, Miele will become president of EA entertainment, technology and central development.

The company saw its revenue rise last quarter, even as it swung to a loss from a profit last year. The company laid off 6 percent of its workforce earlier this year, as consumer demand for video games began to wane somewhat after three years of explosive growth tied in part to the pandemic.

EA has in the past year explored possible sale or merger opportunities, including talks with Comcast that would have merged EA with NBCUniversal. Those talks ended up falling through.

However, with Microsoft’s acquisition of Activision Blizzard on ice, the potential for some sort of deal if that also falls through is surely intriguing to bankers and others in the sector. Certainly, a merger with a more traditional entertainment company would face less regulatory scrutiny than pure consolidation in the video game space.

In a letter to shareholders, Wilson wrote that the gaming industry is “at an inflection point.”

“Consumption of sports and media is at an all-time high and more people than ever are choosing interactive experiences as their first-choice entertainment. These transformations represent immense opportunities for us to do more amazing things for our people and players,” he added. “To drive growth in FY24 and beyond, we are focusing on the priorities of building games and experiences that entertain massive online communities; creating blockbuster interactive storytelling; and amplifying the power of community in and around our games with social and creator tools. These priorities align our investments with opportunities to make the biggest impact.”

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