Frank Sagnier and Rashid Varachia step down from Codemasters
CEO and CFO will depart company at the end of July
EA has announced the departure of Frank Sagnier and Rashid Varachia from their respective roles as CEO and CFO of Codemasters.
The news follows EA's acquisition of Codemasters and its subsidiary, Slightly Mad Studios, which was completed back in February.
According to the company, Sagnier and Varachia's departure has "always been part of the plan", but has been brought forward by the speed of Codemasters' integration into EA's studios.
The pair will step down at the end of July.
Both Codemasters and Slightly Mad will join the EA Sports umbrella, led by Cam Weber. Slightly Mad will continue to be led by studio CEO Ian Bell, while SVP of product development Clive Moody and SVP of publishing Jonathan Bunney will lead Codemasters going forward.
"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.
"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."
EA snapped up Codemasters for $1.2 billion, successfully outbidding Take-Two for ownership, and adding franchises including F1, Project CARS and Dirt to its existing roster of sports IPs.
Speaking to GamesIndustry.biz at the time, executive vice president of strategic growth Matt Bilbey said that the acquisition will "mark the beginning in a new era in racing entertainment."