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.
Don't forget to join our new Telegram channel, our Discord, follow us on Instagram and Twitter, where we are sharing breakdowns, the latest news, awesome artworks, and more.