Activision Blizzard CEO Bobby Kotick is one of the highest-paid executives not only in video games, but across the entire entertainment media industry. He made more than $30 million in 2019. One of the company's shareholders, The CtW Investment Group, is now calling on other stakeholders to vote against a measure that gives the company freedom to pay Kotick high rates. [Update: Activision Blizzard has responded with a statement, which you can see below]
In a filing with the United States government, The CtW Investment Groups' director Dieter Waizenegger called on other stakeholders to vote against the "Say-On-Pay" proposal during Activision Blizzard's upcoming annual meeting scheduled for June 11, 2020.
"Despite repeated low approval votes from shareholders, Activision Blizzard maintains multiple, overlapping opportunities for its CEO to earn outsize equity awards, even when performance-related vesting thresholds have not been met," the note says. "Despite failing to disclose pertinent information on performance targets for its Short Term Incentive Plan, Activision Blizzard's proxy statement reveals significant human capital management challenges."
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