Following confirmation of Microsoft’s buyout of Activision Blizzard, controversial CEO Bobby Kotick has confirmed he will remain boss of the Call of Duty maker only until the end of 2023.
In an email to all Activision Blizzard employees, Kotick said Xbox boss Phil Spencer had asked him to stick around as CEO to the end of this year, suggesting an exit in 2024.
“I have long said that I am fully committed to helping with the transition,” Kotick said. “Phil has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players.”
Kotick stands to make hundreds of millions of dollars from Microsoft’s eye-watering $69 billion buyout of Activision Blizzard. Last year, Bloomberg reported the CEO could see $520 million from the sale. In a securities filing published in 2022, Activision Blizzard said Kotick would receive $14.4 million in severance if he was terminated or left under various circumstances within a year of a change of control at the company. At the time, Kotick owned 4.3 million shares and had the right to acquire another 2.2 million through the exercise of options, which could potentially be worth $520 million in total at the $95 per-share price Microsoft offered.
Kotick leaves Activision after 30 years as CEO and with clear financial success under his tenure, but his time at the top has been mired in controversy. Employees have issued a number of complaints about sexism, a toxic work culture, and even walked out over reports Kotick failed to make the company’s board aware of allegations of rape and other serious misconduct.
California’s Department of Fair Employment and Housing sued Activision Blizzard in July 2021, alleging a retaliatory “frat boy” culture. And just last week, Activision Blizzard was hit with another National Labor Relations Board complaint by the Communication Workers of America union.
Image credit: David Paul Morris/Bloomberg via Getty Images
Wesley is the UK News Editor for IGN. Find him on Twitter at @wyp100. You can reach Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.
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