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<sturdy><em>Replace, 11:13 a.m. ET, 10/13/23:</em></sturdy>
Earlier at the moment, Microsoft formally acquired Activision Blizzard for almost $69 billion. Activision Blizzard CEO Bobby Kotick revealed he’ll stay as CEO by means of the top of the 12 months after Xbox head Phil Spencer requested him to remain to assist with the corporate transition. Whereas staying by means of the top of the 12 months presumes Kotick will depart from the corporate in 2024, that remained technically unknown.
Nevertheless, Bloomberg’s Jason Schreier says that Kotick will depart from Activision Blizzard, an organization he took over 33 years in the past, on January 1, 2024.
Because the Microsoft-Activision deal closes, Bobby Kotick says he’ll keep on as CEO by means of the top of the 12 months. On January 1, 2024, Kotick will depart the corporate he took over 33 years in the past — an enormous change for the online game trade
— Jason Schreier (@jasonschreier) October 13, 2023
Sport Informer has reached out to Activision Blizzard to ask if Kotick will depart on January 1, 2024, and can replace this story if we be taught extra.
The unique story continues under…
Authentic story, 10 a.m. ET, 10/13/23:
After almost two years because the announcement, Microsoft has formally acquired Activision Blizzard for almost $69 billion. Now, in emails from Microsoft Gaming CEO and Xbox Head Phil Spencer and Activision Blizzard CEO Bobby Kotick, we all know Kotick will stay CEO by means of the top of 2023. Kotick says Spencer particularly requested him to stay as CEO by means of the top of the 12 months to assist with the transition, now that Activision Blizzard is a part of the Xbox first-party umbrella.
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Picture from Xbox
“I’ve lengthy mentioned that I’m totally dedicated to serving to with the transition,” Kotick writes in an e-mail he despatched to all of Activision Blizzard. “[Phil Spencer] has requested me to remain on as CEO of ABK, reporting to him, and we have now agreed that I’ll try this by means of the top of 2023. We each sit up for working collectively on a easy integration for our groups and gamers.”
Spencer writes in an e-mail, “We couldn’t be extra excited that Activision Blizzard staff are our colleagues, co-workers, and teammates. Bobby Kotick has agreed to stay in his function by means of the top of 2023, reporting on to me, to make sure a easy and seamless integration. We sit up for working collectively as a unified group and we’ll share extra updates on our new organizational construction within the coming months.”
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Microsoft Gaming CEO and Xbox Head Phil Spencer
Since Microsoft introduced its intention to amass Activision Blizzard almost two years in the past for $69 billion, analysts have anticipated Kotick to benefit from considered one of numerous “golden parachute” choices at his disposal because of the acquisition. As reported by Axios final 12 months, if Kotick is fired/let go after this buy, he’ll be entitled to a $15 million payout.
He may additionally obtain as much as $22 million in inventory if Activision Blizzard’s board sees enchancment in firm tradition, following a 2021 report that Activision Blizzard harbored worker misconduct, sexual harassment, and extra. A later report indicated Kotick knew concerning the firm’s historical past of sexual misconduct leading to staff strolling out whereas demanding his resignation.
Past these two choices, as of February 2022 in Axios’ report, Kotick owns 6.5 million Activision Blizzard shares value $619 million at Microsoft’s worth, which he may promote.
Whereas we don’t know conclusively if Kotick will depart Activision Blizzard in 2024, or if he will likely be let go (though Spencer asking him to remain on signifies Kotick will probably depart amicably, on his personal phrases, subsequent 12 months after the corporate transitions into the Xbox umbrella), we now know Kotick will stay CEO by means of the remainder of the 12 months.
For extra, examine how Microsoft has lastly and formally acquired Activision Blizzard. After that, examine how Kotick was reportedly interviewed by former late-night present host James Corden throughout an worker assembly about Guitar Hero and extra.
Do you assume Spencer made the best resolution to maintain Kotick as CEO by means of 2023? Tell us within the feedback under!
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