- According to Kotaku, CtW Investment Group commented that Bobby Kotick will receive a whooping $200 million in bonuses
- The gaming company just dismissed dozens of workers. Shareholders have previously claimed Kotick is getting disproportionately paid
- CtW researcher comments that Activision Blizzard’s CEO is unfairly acting with only his own interest in mind
In the wake of dozens of workers’ dismissal, Bobby Kotick, Blizzard’s CEO, may receive as much as $200 million in bonuses.
Bobby Kotick’s Hefty Paycheck and Why People Are Outraged
Activision Blizzard just finished dismissing dozens of people from their posts. Although the initial number was estimated to be around 50, it now reported to be much closer to 200. It was all a part of an internal restructuring process with reorientation towards online events, Tony Pettiti, the company’s president of sports and entertainment, claimed.
The company hasn’t been stranger to cutting down human resources as in recent years they laid off hundreds of employees and even closed their French office.
In the light of that, it is no surprise that when Kotaku reported Activision Blizzard’s CEO Bobby Kotick would be getting $200 million in bonuses, the news left many people suspicious of the intentions behind the company’s actions. Kotaku’s report was based on CtW Investment Group's claims that it specializes in corporate accountability.
Stock Markets Remain Buoyant Throughout Lockdown and Pandemic
Activision Blizzard’s stocks weren’t hindered by the pandemic and have been hitting all-time highs in the recent months, with a share nearing double the price it was in 2020 ($103 per share in February 2021 compared to an average of $56 the previous year). CtW mentioned that the CEO could claim many of the stock-related bonuses and the “shareholder value creation incentive” clause written in his contract.
CtW researcher Michael Varner commended Activision Blizzard on their stock's skyrocketing but still criticized Kotick’s paycheck as “unjustified” and a way to overcompensate himself for past accomplishments.
This isn’t the first time the CEO has been criticized for the huge bonuses as he has been getting $20 million in stocks and option equity for four years now. Moreover, in summer 2020 Activision Blizzard’s shareholders did try and protest against the disproportional monetary compensations Kotick is receiving compared to other companies’ CEOs.
Activision Blizzard did compensate the dismissed workers with healthcare benefits for the current year but still came under attack as one of the compensations given was $200 Battle.net gift cards. Negative opinion on the gift ranged from it being useless to it being borderline offensive.
The big company has been under attack numerous times for the recent years. We have yet to see how the current issues will unfold.
