Unity Software CEO John Riccitiello speaks onstage throughout TechCrunch Disrupt SF 2018 in San Francisco, Sept. 5, 2018.
Steve Jennings | TechCrunch | Getty Images
Unity CEO John Riccitiello is retiring from the sport software program firm after 9 years, following a controversial pricing change that annoyed quite a few builders.
Riccitiello, who’s been operating Unity for 9 years, may even step down as chairman and is leaving the board, the corporate stated Monday.
James Whitehurst, former CEO of enterprise of Red Hat, will develop into Unity’s interim CEO. Sequoia Capital’s Roelof Botha, the lead impartial director of Unity’s Board, will develop into the corporate’s chairman.
Unity stated that it’ll start looking for a everlasting CEO and that Riccitiello “will continue to advise Unity to ensure a smooth transition.”
In September, Unity introduced a pricing change that upset quite a few builders who depend on the corporate’s know-how to create video video games. A consortium of sport builders protested the change, saying in a public letter that it “jeopardizes small and large game developers alike” and was “made without any industry consultation.”
Unity finally modified its replace to enchantment to builders after acknowledging the discontent and apologizing “for the confusion and angst the runtime fee policy” brought on.
“We are listening, talking to our team members, community, customers, and partners, and will be making changes to the policy,” the corporate stated on the time.
Unity went public in 2020 and was valued at $17 billion after its first day of buying and selling. The firm now has a market cap of simply over $11 billion, after its inventory dropped alongside a broader tech decline in 2022.
“It’s been a privilege to lead Unity for nearly a decade and serve our employees, customers, developers and partners, all of whom have been instrumental to the Company’s growth,” Riccitiello stated in a press release. “I look forward to supporting Unity through this transition and following the Company’s future success.”
Unity shares fell 1.5% to $29.70 on the market shut on Monday.
Watch: Unity Software’s John Riccitello retiring as president and CEO.
Source: www.cnbc.com”