Peter Moore, former VP of the Interactive Entertainment Business at Microsoft, is heading for greener pastures as the head of EA Sports.

And we do mean greener.

Kotaku is reporting that Moore will be making 550K plus a 75% “discretionary target bonus” (whatever the heck that means). Plus…some other goodies. Check the Kotaku link for all the details and after the jump is the mandatory enthusiastic press release from EA. PETER MOORE NAMED PRESIDENT OF EA SPORTS LABEL

Industry Veteran To Lead EA SPORTS — The Strongest Brand in Interactive Entertainment

REDWOOD CITY, Calif. – July 17, 2007 – Electronic Arts Inc. (NASDAQ: ERTS) today announced that Peter Moore has joined EA as President of the EA SPORTS™ Label. Moore joins EA from Microsoft Corporation where he served as corporate vice president of the Interactive Entertainment Business in the Entertainment and Devices Division, leading both the Xbox® and Games for Windows businesses. Moore begins at EA in September and will report to EA CEO John Riccitiello.

Mr. Moore’s appointment rounds out the leadership of John Riccitiello’s recent reorganization of EA into four autonomous Labels. Frank Gibeau serves as president of the EA Games Label; Kathy Vrabeck is president of EA Casual Entertainment; and Nancy Smith is president of The Sims™ Label.

“Peter Moore’s proven record of leadership in games and sports makes him a terrific fit for heading up EA SPORTS,” said EA CEO John Riccitiello. “As a partner at Microsoft and earlier, as a competitor, we’ve learned to respect his vision and leadership.”

“The people at EA SPORTS have created one of the strongest brands in the entertainment industry and John Riccitiello is building an organization which will extend the company’s leadership to new platforms and new audiences all over the world,” said Peter Moore. “I couldn’t be more excited about joining EA and moving my family back to the San Francisco Bay Area.”