Bobby Kotick is set to receive a $200m payout and it's not going down well with CtW Investment Group whose mission is to hold companies accountable for "irresponsible and unethical corporate behaviour and excessive executive pay".
Activision Blizzard is one of the companies that has done well during the pandemic and this has triggered Kotick's Shareholder Value Creative Incentive in which he would receive any bonuses that were missed in subsequent years regardless of whether targets were met. This could total $200m and goes back to 2017.
CtW released a statement to Gamespot:
"While the increase in Activision's stock price is somewhat commendable, as we stated last year and continue to assert, this achievement alone does not justify such a substantial pay outcome for the CEO. There are many factors that may contribute to a rise in this particular company's stock price that may not be directly attributable to Robert Kotick's leadership."
This news comes on the back of layoffs at Activision Blizzard's eSports division and numerous layoffs at the company in the past year or so. Still, at least those without work will get a $200 BattleNet gift card.
There are many tech stocks that have done well during the pandemic and online entertainment companies have reaped the rewards from people being locked indoors and Activision Blizzard is no exception.
Activision Blizzard is one of the companies that has done well during the pandemic and this has triggered Kotick's Shareholder Value Creative Incentive in which he would receive any bonuses that were missed in subsequent years regardless of whether targets were met. This could total $200m and goes back to 2017.
CtW released a statement to Gamespot:
"While the increase in Activision's stock price is somewhat commendable, as we stated last year and continue to assert, this achievement alone does not justify such a substantial pay outcome for the CEO. There are many factors that may contribute to a rise in this particular company's stock price that may not be directly attributable to Robert Kotick's leadership."
This news comes on the back of layoffs at Activision Blizzard's eSports division and numerous layoffs at the company in the past year or so. Still, at least those without work will get a $200 BattleNet gift card.
There are many tech stocks that have done well during the pandemic and online entertainment companies have reaped the rewards from people being locked indoors and Activision Blizzard is no exception.