Activision CEO Bobby Kotick takes salary cut, but is eligible for bonuses that cover it
Kotick's employment has been extended through 2023, and though his salary will be halved, he's still eligible for bonuses that would more than cover the cut.
Activision Blizzard CEO Bobby Kotick and his arguably absurd salary has been a center point of attention recently, especially as the developer/publisher giant behind Call of Duty and World of Warcraft laid off a massive number of employees. It seems like Activision Blizzard is taking a step to bring Kotick’s massive salary down, though its not so cut and dry. It would also appear that he is still eligible for bonuses that would cover the cut to his salary and then some.
New details on Activision CEO Bobby Kotick’s salary were detailed in a recently 8-K Form filed with the SEC, which laid out an employee extension agreement that will see Kotick continue to hold his position through 2023. A major detail of the extension is that Kotick agrees to halve his salary from $1.75 million to $875,000. Reportedly, this is to “reflects shareholder feedback, incorporate market best practices, and continue to directly connect pay to performance.” However, the extension also includes bonus incentives for Kotick which could see him earn up to 200 percent of his new halved salary, which would end up with him more than covering the loss.
Bobby Kotick’s salary has especially been under the microscope from critics and shareholders lately as he collected a massive $200 million payout for the success of the company, even as Blizzard went through a period of massive layoffs. It was poor timing for sure, but many also wondered why Kotick was collecting such a huge bonus even as employees were being told to pack up their things and head out for good. Although not entirely related, even longtime Blizzard veteran and Overwatch lead Jeff Kaplan has left the company.
Bobby Kotick’s new salary seems like it’s far from an actual fix for the issue and more like placation against criticism, but it will remain to be seen if any further action is taken. Stay tuned to Shacknews as we follow this story for further details and updates.
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replyTJ Denzer posted a new article, Activision CEO Bobby Kotick takes salary cut, but is eligible for bonuses that cover it
