In an employment extension deal with the SEC, Activision CEO Bobby Kotick agreed to have his salary cut in half.
Activision CEO’su Bobby Kotick With the new contract it has made, it will remain with the company for at least two more years. However, with the new contract, there is a big change in salary. Kotick previously had a lot of backlash due to the exaggerated salary he received.
Bobby Kotick agrees to cut his salary in half
In recent years, when the company has boasted of its financial success, Bobby Kotick has also been receiving substantial wages. So much so that his salary received reactions from many different segments in the gaming industry. On Twitter “FireBobbyKotick“The CEO, whose tag has been demanded by people to be fired, will remain with the company for at least two more years with a new employment extension deal with the SEC, but there is a large regulation on his salary.
(Wowhead The SEC deal resulted in Kotick’s generous bonuses and a 50 percent reduction in his base salary. The agreement claims that these changes were made to align Kotick’s remuneration with company goals, stating that the new structure “better reflects shareholder feedback, incorporates best practices in the market and continues to directly link payment to performance”.
Kotick’s salary, which has been controversial in recent years, has finally been reduced by 50 percent. Last month, an investment group highlighted a pay package that showed the CEO would receive almost $ 200 million in bonuses. A year ago, the same group had argued that a typical Activision employee would only win a third of what Kotick wins.
These gains were even more pronounced after Blizzard’s mass layoffs. As you know, the company had previously made redundancies and sent gift cards to its employees. Blizzard laid off 8 percent of its workforce after it said it was a record year, and had parted ways with a total of 500 employees. More recently, Activision also fired around 50 e-sports staff while moving away from live events.
With this change, Bobby Kotick’s salary Dropped from $ 1,750,000 to $ 875,000 happened. Despite this cut, the CEO is still eligible for high bonuses of up to 200 percent of his base salary. Kotick’s salary may have gone down, but he is still doing well. Will this arrangement made by Activision make its impact felt in the company in the future? We will see together.