Nice, now spend that money on a dozen new devs and bring Shadowlands back on track!
Oh boy, he'll only be able to buy two yachts this year instead of four.
oh noooo, the most overpaid CEO in the US took a pay cut, meaning he's now just in range of other CEO's. Guess it's two yachts instead of four, poor dude. and don't forget this is pure PR move that is aimed at raising stock prices, meaning he'll make more and his current net worth is sitting at $300 million-ish, so this "cut" doesn't mean anything to him. Also doesn't change the fact of how many people he fired while being the most overpaid CEO in the US.
Sounds like alot of legalese to cover up some bull^&*! happening behind the scenes. Think of it with some common sense1) "Wanted to retain him as CEO" - So that means he had other offers? His contract was coming up? AND he had created alot of money for the company so therefore they had to OFFER him something to keep him right?2) They "offered" him 50% LESS......? How tf does that make any sense. That your CEO is about to walk because he has competitive edge on the market, you CUT his salary by massive margin and he stays?3) And this is about future earnings right? The bonuses he has already got in the last 10 years are worth 100x these numbers.All in all, sounds like alot of bull*!@# where they found some other ways to compensate him. There's no way that he's about to walk and you "offer" him 50% less and he stays.
How ever will the poor bloke pay his bills...
Should we start some sort of crowd funding thing for him? He must be struggling to maintain his lifestyle now.
I mean, it's hard to argue Kotick isn't good at business or at producing profits. He's good at that. He really did save Mediagenic/Activision from just up and not existing anymore. However, it's pretty clear the motivation for a lot of the products, formerly known as games, Acti/Blizz now produce have no goal beyond producing record breaking profits. They are interested in producing; not good games, not great games, just products that make money. And as someone who loves great games, That Sucks. The whole situation is not good; for the company, the people, and the games. But as someone uninvolved I don't really care he potentially will see his income reduced, and heck even hope such an unfortunate turn will prompt Kotick to quit. Maybe he can make more money somewhere else. I don't have any idea who could or would step into the position but I can only hope it's an improvement. It really is shocking to sit here and care so much about a thing as to hope a CEO quits over a pay cut, but I really don't like the guy and his apparent influence.
All this greedy people in the comments.lolYou go turn a multi-billion dollar company around if you want to make a million dollars a year.
I always find it wild that people bash CEO's for making a ton of money and then charging high prices, but are ok with sports stars making more than CEO's and they're still buying $8 beers at the stadium.Get a grip.In 2020 it's reported that with bonuses, Kotic made roughly $30,000,000. Cut in half leaves $15,000,000 he could then use to pay employees. Activision Blizzard has roughly 10,000 employees. Split evenly, each would see a $1,500 per year increase in salary, about $120 per month. Really? That's what we're up in arms for? Keep your money Bobby. I'm not offended when people make a lot of money providing services and products that people are willing to buy at their current market price.
The thing is, we don't know what's being done with the money that would have gone to him. It may have been a case where they were in a tough spot and needed to shave costs. Had he not been in the news, they would have likely shaved off the bottom to save costs. They've done that in the past, gutting entire departments, and while they saved money, they lost quality as well.He may have also been offered other options that essentially made up for the cut. And finally, if they needed to show higher profits this quarter, a short term cut in his salary would be a fast and dirty way to do it. They did that a couple years ago, nuked a bunch of people and then claimed "profits are up!" Well yeah, you fire 100+ people, you're gonna have extra money in your pocket!If we were talking about a legit honest company, this debate wouldn't even be happening. But, the company has tarnished its reputation so much, people are expecting this was not done for honest reasons.
Um … the Shareholder Value Creation Initiative is only being removed with respect to future equity awards awarded after the 28th of April. It doesn’t remove that clause from his employment contract completely. You need to read the attachment which has the actual amended agreement and not the SEC filing it’s part of. It’s pretty clear in that attachment as well as the recent DEF 14A filed recently.
If people think he brought success to the company theyre idiots...Blizzards games have been selling like hot cakes forever. Nothing to do with him at all... he will have zero input to any of the games he just got lucky being the top dog.Most ceos havent got a clue how things go they just talk the talk... like in all jobs managers couldn't actually do the job the people they manage do. They just got there by luck or by who by people they know. Its not what you know its who you know...
I have resubbed.Now PLEASE for the love of all that's holy in this World(of Warcraft), don't make a TBC collectors edition. PLEASE make retail less "hamsterwheely" and give it more "simple" depth instead. We need things to do, not just another time-waste.Also, buff hunters :D