Activision Blizzard shareholders have completed a new election round. The company’s current CEO, Bobby Kotick, and ten board members have been extended until the next election in 2023.
Activision Blizzard has been the subject of much news lately, including unions, harassment, and SEC investigations. During this turbulent period for the company, shareholders showed that they were satisfied with the board of directors. More than 90% of the votes were cast in favor of Bobby Kotick and his team. This means that Kotick received 533,703,580 votes.
As you know, Activision Blizzard has been the subject of several harassment allegations. In addition, the employees of Raven Studios, a subsidiary of the company, unionized because they did not get what they deserved. These two issues were voted at the annual shareholder meeting.
67% of shareholders (379,308,934 votes) requested a detailed report of how harassment cases are reviewed and responded to by Activision Blizzard. 95% (555,091,091 opposing votes) opposed the proposal to appoint an “employee representative” to voice the problems of the employees.
Recently, EA reduced the bonuses of its senior executive team. That’s why the company’s CEO, Andrew Wilson, saw a $20 million drop in annual revenues. The opposite happened with Activision Blizzard. 88% of shareholders voted to increase the salaries and bonuses of high-ranking executives.
This election rekindled some controversy for Activision Blizzard. Many voices rose against Bobby Kotick from inside and outside the company. Looking at the results, we can clearly see that the shareholders do not listen to these voices.
For the company’s shareholders, Bobby Kotick is an important part of the deal with Microsoft. The two companies entered a heated business relationship after Microsoft announced that it would buy Activision Blizzard. Allegedly, shareholders think these relationships will be damaged if Kotick is fired.