Bigwig video game publisher Electronics Arts (EA) said in an announcement on Monday that its CEO John Riccitiello has resigned; a move which comes at a time when the conventional video gaming is facing increasing pressure from the smartphone gaming.

With EA yet to appoint a new CEO to replace Riccitiello, who has been at the helm of the company since 2007, long-time EA executive Larry Probst will temporarily serve as the CEO till a new chief is named.

Citing the reason behind his departure from EA, Riccitiello said in a SEC-published internal memo to Probst that his decision to resign chiefly resulted from the fact that he could not meet the goals and expectations of the company's shareholders.

Calling his decision to step down after a six-year stint as a "tough" one, and adding alongside that "it all comes down to accountability," Riccitiello said that though he was extremely proud of the "progress EA has made on transitioning to digital games and services," it currently appears that the company "will come in at the low end of, or slightly below, the financial guidance we issued in January."

Riccitiello further said that "EA's shareholders and employees expect better and I am accountable for the miss;" and added: "After six years I feel it is the right time for me to pass the baton."