Codemasters CEO and CFO step down following EA acquisition

Codemasters CEO Frank Sagnier and CFO Rashid Varachia will both depart the Dirt developer at the end of July as a result of the studio's $1.2 billion acquisition by EA earlier this year.

A statement given to GamesIndustry notes that the executive departures may have happened ahead of schedule, but have "always been part of the plan" for Codemasters' induction into the EA Sports brand.

In his own statement shared to LinkedIn, Sagnier, who joined as CEO in 2014, notes that he felt the time was right to step down and that he remains "very confident Codemasters will reach new heights" as part of EA Sports. Varachia, meanwhile, joined Codemasters in 2012 and, as noted in EA's parting statement, played a key part in Codemasters' success over the years by "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," continues that statement from EA. "We know the culture they have created and their innovative spirit will very much live on at the studio through their outstanding leadership team."