Sections
Get a job in games graphic

Level up your career

Learn about working in games

Sign up to the GI Jobs board

View jobs board

Making the games industry a better place to work

See best places to work
Get a job in games graphic

Activision Blizzard CEO Bobby Kotick takes 50% pay cut

Kotick's base salary and target bonuses will be halved

Activision Blizzard has extended Bobby Kotick's employment agreement, which will see him serve as company CEO until at least March 31, 2023 -- but it comes with a pay cut.

As noted in a recent filing, Kotick's agreed-upon base salary has been voluntarily reduced by 50% to align with company targets. This equates to a $875,000 reduction.

In line with this, Kotick has also agreed to reduce his target annual bonus by 50%, a potential reduction of $1.75 million for fiscal years 2021 and 2022.

However, Kotick is still eligible to earn up to 200% of the reduced base salary, due to exceptional factors detailed in an extension amendment.

The amendment notes that under Kotick's leadership, Activision Blizzard's market capitalisation has increased from less than $10 million to over $70 billion, with an 8,100% increase in shareholder return between 2000 and 2020.

Kotick's salary came under fire last year, with company shareholders arguing that he is paid too much. The notion was supported by the CtW Investment Group -- a firm set up to challenge excessive executive pay -- urging shareholders to vote against the decision to remunerate Kotick in-line with previous years.

Additionally, Kotick could be set to receive up to $200 million as a result of Activision Blizzard's success over the last year. CtW also criticised this notion, deliberating whether Kotick should be solely compensated for company-wide success.

News of this substantial payout followed a round of layoffs at Activision Blizzard, with 50 staff let go from the company's esports and live events businesses during the pandemic.

Get a job in games graphic

Level up your career

Learn about working in games

Sign up to the GI Jobs board

View jobs board

Making the games industry a better place to work

See best places to work
Get a job in games graphic

More stories

Ubisoft staff back Activision Blizzard protestors, call for industry-wide change

Almost 500 people sign open letter demanding new reporting processes for all leading companies, removal of all offenders from Ubisoft

By James Batchelor

Activision Blizzard staff respond to Bobby Kotick statement

Employees say that CEO statement fails to address multiple issues laid out in wake of lawsuit

By Danielle Partis

Latest comments

Sign in to contribute

Need an account? Register now.