Bobby Kotick has been sitting in a luxurious CEO chair for 30 years. But if the Activision and Blizzard merger made it possible to amass juicy licenses within the same group, it’s mostly the indentation volume of his funds that the five-year-old mostly talks about. The controversial group finally decides to give up ballast.
see also: Overwatch: Director and VP Jeff Kaplan is leaving Blizzard Entertainment
Would Activision Blizzard have had enough of his famous boss’s salary making headlines too often? If father Kotick has benefited from stock options and stocks worth $ 20 million a year since 2016, the group’s shareholders had recently stated that the cut is gradually becoming full, especially as layoffs numbered by the hundreds. Investors did not hesitate to join the US Securities and Exchange Commission, which is responsible for regulating and controlling financial markets. Yesterday the group’s executive committee decided on the follow-up to the events.
My job in two years
The first decision is re assuring for Bobby on the front line as he can keep his position as CEO for another two years and his mandate will be extended until March 31, 2023. But because the time is not easy for anyone, he agrees to deal with a 50% decrease in his fixed pay, which will therefore “only” decrease from $ 1.75 million to $ 875,000.
However, since the appetite for profit is often a stimulus, the interested party can compensate for this loss with a maximum bonus of 200% which is already valid for the next two financial years. Not crazy, the girl.
The document is fully available exactly here however, is delaying the anger of shareholders (and others) by highlighting Kotick’s results that skyrocketed Activision Blizzard’s capitalization (+ 8,100%, read aloud), these smallholder dividends, or value proposition, not without reminding us that his three decades at the head of the assembled group make him a record holder for longevity.
Last month, Activision Blizzard laid off nearly 200 people.