Investors argue against excessive pay package for Activision CEO ~ USA Latest Games

A major investment group with substantial holdings in Activision stock is speaking out this week against the high compensation for Activision Blizzard CEO Bobby Kotick. The move comes ahead of a shareholder vote on executive pay scheduled for June 11.

"Over the past four years, Activision Blizzard CEO Robert Kotick has received over $20 million in combined stock/option equity per year," the CtW investment group writes in a letter filed with the SEC this week. "These equity grants have consistently been larger than the total pay (the sum of base salary, annual bonus, and equity pay) of CEO peers at similar companies."

CtW—which works with union-sponsored pension funds to speak out against "irresponsible and unethical corporate behavior and excessive executive pay"—said Kotick's excessive compensation is especially concerning in light of the wave of nearly 800 layoffs the company rolled out in 2019. Those layoffs were implemented amid the announcement of "record results in 2018" for Activision and reportedly focused on "non-development teams" that were no longer needed thanks to a lighter slate of releases from the company going forward.

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