Activision Blizzard Shareholders Vote To Keep CEO Bobby Kotick On Board Of Directors
Despite employees and shareholders repeatedly calling for Kotick's resignation, it looks as though he'll be around through 2023.
Shortly after Activision Blizzard shareholders voted to approve a report looking into the company's anti-harassment efforts, the members also voted to approve its list of Board of Directors nominees--a list which includes current CEO Bobby Kotick.
According to a document filed on June 21, nearly 534 million shareholders voted in favor of the proposed Board of Directors while only 62.5 million opposed the motion and 2 million abstained. Suffice to say, the proposed item passed easily.
The vote comes after Kotick was repeatedly slammed for his part in maintaining Activision Blizzard's toxic work culture. Last December, the CEO was accused of hiding what he knew about harassment and assault allegations, as well as threatening to kill an assistant years prior. However, despite employees--and shareholders--repeatedly calling for Kotick's resignation, it looks as though he'll be around through 2023.
As for if Kotick will remain CEO of Activision Blizzard, it's still too soon to tell. Right now, the company is in the process of being purchased by Microsoft in a historic $70 billion dollar deal. Some reports claim Kotick will receive a "$15 million dollar golden parachute" following the purchase and his exit is imminent, while others are unsure about what will happen following the acquisition.
Earlier this month, Activision Blizzard released the results of its own internal investigation via its investor site. While the report did acknowledge individual instances of harassment, it claimed there was "no evidence" that senior executives ignored harassment or concealed information from the Board.
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