Unity Software CEO John Riccitiello speaks onstage during TechCrunch Disrupt SF 2018 in San Francisco on Sept. 5, 2018.
Steve Jennings | TechCrunch | Getty Images
Unity CEO John Riccitiello is retiring from the gaming software company following a controversial pricing change that frustrated numerous developers.
Riccitiello, who has been running Unity for nine years, will also step down as chairman and is leaving the board, the company said Monday.
James Whitehurst, former CEO of Red Hat, will become Unity’s interim CEO. Sequoia Capital’s Roelof Botha, the lead independent director of Unity’s Board, will become the company’s chairman.
Unity said it will begin searching for a permanent CEO and Riccitiello “will continue to advise Unity to ensure a smooth transition. “
In October, Unity announced an increase in pricing that angered many developers who depend on its technology to make video games. The consortium of developers complained that the new policy “was made without consulting industry members” and “threatens both small and large developers.” The company announced that it would be changing the policy after listening to its team members, community members, customers and partners. After its stock fell along with a wider tech decline in 2022, the company has a current market cap of $11 billion. “I am looking forward to supporting Unity during this transition and watching the Company’s success in the future. “
Unity shares fell 1.5% to $29.70 at the market close Monday.
: Unity Software’s John Riccitello retiring as president and CEO.