Unity CEO John Riccitiello Retires Following Controversial Pricing Change

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Unity CEO John Riccitiello Retiring After Controversial Pricing Change

Introduction

John Riccitiello, the CEO of Unity, a gaming software company, has announced his retirement following a pricing change that upset many developers.

Leadership Transition

Riccitiello, who has been running Unity for nine years, will step down as CEO and chairman. James Whitehurst, former CEO of Red Hat, will serve as Unity’s interim CEO, while Roelof Botha, the lead independent director of Unity’s Board, will become the company’s chairman.

Response to Controversial Pricing Change

In September, Unity implemented a pricing change that received backlash from developers who rely on the company’s technology. Unity later modified its update to address the concerns and apologized for the confusion it caused.

Unity’s Market Performance

Unity went public in 2020 and had a market valuation of $17 billion after its first day of trading. However, the company’s stock has since declined, along with the broader tech market, and its current market cap stands at just over $11 billion.

Statement from John Riccitiello

Riccitiello expressed gratitude for his time leading Unity and stated his commitment to supporting the company during the transition. He looks forward to Unity’s future success.

Conclusion

Unity’s CEO John Riccitiello is retiring after a controversial pricing change that caused dissatisfaction among developers. The company is now under interim leadership as it searches for a permanent CEO.

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