The company decided that Kotick will now get 50% of the base salary and target bonuses.
Activision Blizzard announced they extended Bobby Kotick's employment agreement and he will remain the company CEO until at least March 31, 2023. A recent document reveals Kotick agreed to a halved base salary to help the company meet its targets ($875,000 reduction).
The CEO has also agreed to reduce his target annual bonus by 50%. The document notes that the manager can still earn up to 200% of the reduced base salary in case of exceptional factors detailed in an extension to the file.
The report notes that Activision Blizzard's market capitalization has increased from less than $10 million to over $70 billion with the help of Kotick's decisions, plus an 8,100% increase in shareholder return between 2000 and 2020.
Shareholders argued that he is paid too much, and the final decision was supported by the CtW Investment Group.