Former SVP Don Mattrick now president of Interactive Entertainment Business; Robbie Bach reportedly gives up $4.2 million to retire early.
Microsoft's Interactive Entertainment Business has a new leader…who is the same as its old leader. Today, the company announced it was elevating Don Mattrick from senior vice president of the division to its president. Mattrick will be most familiar to gamers from his stage appearances at Microsoft's Electronic Entertainment Expo press conferences.
The promotion was in title only, as Mattrick joined Microsoft in 2007 to head the IEB and has run it ever since. The Interactive Entertainment Business consists of all things Xbox 360, Xbox Live, Kinect, Zune Music and Video, and Mediaroom, as well as PC and mobile interactive entertainment. The latter two categories were folded into the IEB in late May, when Robbie Bach, the president of Microsoft's Entertainment and Devices Division, announced his attention to retire.
While most retirees give up a steady income when they leave a job, Bach is giving up a whole lot more. According to documents obtained by the Seattle Times, Bach is giving up $4.2 million in unvested stock options by retiring this year. That's 75 percent of the $5.6 million in stock options he was awarded as a performance-based bonus earlier this year. The bonus also had a $1.4 million cash component, all of which Bach will keep on top of his $645,000 salary when he leaves Microsoft at the end of the year.
@edenproxy and Mass Effect 2, and Alan Wake, and tons of epic downloadable stuff, and stuff coming out around like christmas like Fable 3. Granted, PS3 got stuff like Heavy Rain and Mag is pretty cool from what I hear (never played it). Besides, don't feed the trolls, it means they win
@EdenProxy Xbox 360 Slim -_- growing Xbox Live Gold Membership still winning the console war again st PS3 comfortably MS actually have been kicking butt this year.
@monson21502 Kicking butt? All 360 has had this year is halo reach. This is by far the worst year for the 360.
I wish they'd get Seamus Blackley and Peter Moore back. I miss the Microsoft of 2001-2004. The company's gaming division seemed to be really responsive and gamer-oriented back then.
@ howie1926 4 million in stock option is not the same as 4 million cash. 4 million stock option means he can spend up to 4 million dollars to buy stocks at a set (presumably lower) price than the current market value. GIven the recent market crash however, it is likely that the lock-invalue is HIGHER than the current market value (meaning he can't make any money from stock-option).
Bach seems pretty humble person since I heard him talk before at the school I was going to at the time. He was pretty worn out already at the time since he was there for the first xbox. But congrats to the new guy!
To those of you saying that you wouldn't retire early: tell me, what would you do with that extra 4.2 million? Besides, he already has god knows how much in his bank account. He probably could have retired much earlier than this, but I see a lot of people these days have some stupid fascination with having so much money that they don't even know what to do with it.
Robbie Bach must have had some family issues or something that would have required his time to give up so much. It's interesting to see a high level executive give up so much to retire as well.
I would have stayed to collect that cash. He's probably have $30million or more rolling around in his bank account anywas. Now he can start enjoying life. Don needs to get the games kicked into high gear. They should have never let Ed Fries leave. He was the one who spearheaded all those great exclusive games on the original XBox. When he left, all the exclusives we were get left as well. It's nice they have some exclusives in Japan, but we need a ton of exclusive here in America.
Avalanche Studios co-founder says developer's ambition is for action, not moments that make players cry; steampunk-style game on hold. Full Story
- Posted May 15, 2013 6:33 am PT
4A Games creative director Andrew Prokhorov thanks Jason Rubin for telling the studio's story, but says, "We deserve the ratings we get." Full Story
- Posted May 16, 2013 12:44 pm PT