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 company after 9 years, following a controversial pricing change that pissed off quite a few builders.
Riccitiello, who’s been operating Unity for 9 years, will even step down as chairman and is leaving the board, the company stated Monday.
James Whitehurst, former CEO of enterprise of Red Hat, will grow to be Unity’s interim CEO. Sequoia Capital’s Roelof Botha, the lead unbiased director of Unity’s Board, will grow to be the company’s chairman.
Unity stated that it’s going to start looking for a everlasting CEO and that Riccitiello “will proceed to advise Unity to make sure a clean transition.”
In September, Unity introduced a pricing change that upset quite a few builders who depend on the company’s expertise to create video video games. A consortium of sport builders protested the change, saying in a public letter that it “jeopardizes small and huge sport builders alike” and was “made with none trade session.”
Unity ultimately modified its replace to attraction to builders after acknowledging the discontent and apologizing “for the confusion and angst the runtime payment coverage” brought about.
“We are listening, speaking to our staff members, neighborhood, clients, and companions, and will likely be making modifications to the coverage,” the company stated on the time.
Unity went public in 2020 and was valued at $17 billion after its first day of trading. The company 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 guide Unity for practically a decade and serve our workers, clients, builders and companions, all of whom have been instrumental to the Company’s progress,” Riccitiello stated in a press release. “I look ahead to supporting Unity by means of 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.