Activision Blizzard shareholders call on Bobby Kotick and board members to resign [UPDATE]

Update: 11/18/21 2:00 PM Central: We learned from Shannon Liao’s report Washington post Activision Blizzard employees have begun to sign public petitions, demanding CEO Bobby Kotick (Bobby Kotick) resign from his position at the company.At the time of this update, more than 500 workers have written their names on The petition says, “We, the signatories, no longer believe in Bobby Kotick’s leadership as the CEO of Activision Blizzard.” The group’s request is clear and concise. He said: “We ask Bobby Kotick to step down as the CEO of Activision Blizzard and allow shareholders to In Bobby’s case, we choose the new CEO. We know that he has the majority of shareholders’ voting rights.” According to 2020 data, Activision Blizzard has approximately 9,500 employees, which means that the petition currently accounts for 5 of the total employees. % above.

ability: yesterday, Wall Street Journal A detailed report was released detailing evidence that Activision CEO Bobby Kotick has been aware of the company’s long history of sexual misconduct over the years. The report also stated that Kotick had concealed information about these incidents from the board of directors and revealed allegations of abuse against Kotick himself. You can read the full story here, but this news triggered a strong protest from the entire industry, leading to a temporary strike of more than 100 Activision Blizzard employees yesterday, demanding Kotick’s resignation. It now appears that a group of shareholders are echoing the same sentiment.

Washington post A report was published, revealing that several shareholders led by the Strategic Organization Center (SOC) Investment Group have co-signed a letter to the Activision Board of Directors requesting Kotick to step down. The letter also asked Brian Kelly and Robert Mogado, the two longest-term board members, to resign. Kelly joined the company in 1995 as the chairman of the board of directors. Morgado has been with Activision since 1997 and serves as lead independent director.

These shareholders have asked Kotick, Kelly and Morgado to resign before December 31. If they do not, the group has vowed not to vote for the re-election of current board members at its annual general meeting in June next year. SOC tells postal The current leadership of Activision has repeatedly failed to create a safe working environment for all employees, and the company needs a “reset button on the board.” Among their replacements, the group hopes to appoint at least one non-executive Activision Blizzard employee, and hopes that the overall board of directors will be more diverse.

Several investment groups signed the letter, and overall, Activision owns 4.8 million of the nearly 779 million issued shares. SOC Investment Group is a company that works with union-sponsored pension funds. In its own words, “make the company and its leadership accountable for irresponsible and unethical corporate behavior and excessive executive compensation.” SOC Yes Previously opposed Kotic’s considerable income, This is one of the highest among American executives.

It’s worth noting that Activision’s board of directors Made a statement yesterday Respond to Wall Street JournalThe report stated that it “still believes that Bobby Kotick appropriately solved the workplace problem that caught his attention.” Kotick himself sent a Transcribed video message Acting as Blizzard employees call Wall Street Journal‘S report is “inaccurate and misleading.”

[Source: The Washington Post]