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

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 requested the two longest-term board members, Brian Kelly and Robert Mogado, 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 have already signed the letter, and overall, Activision’s total issued shares of nearly US$779 million are US$4.8 million. 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 resolved the workplace issues 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]