CEO Bobby Kotick will leave Activision Blizzard on January 1, 2024 | Schreier: Kotick will depart after 33 years, employees are “very excited.”::Schreier: Kotick will depart after 33 years, employees are “very excited.”
the shareholders will identify a suitable replacement my dudes, no need to cheer up over this
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This was likely the plan before the acquisition. I doubt this came as a surprise to Kotick.
This is standard. You always get rid of the upper management. You give them a lot of money and a round of applause and then you put your own people in. Everyone at the top will be Microsoft.
Kotick gave himself a few hundred million as a bonus a few years ago.
So many CEOs stepping down now
Hope he burn in hell. He’s the best example of how not to run a company. It’s insane that he’s not been let go for years now.
That entirely depends on your expectations of a company CEO
https://www.macrotrends.net/stocks/charts/ATVI/activision-blizzard/stock-price-history
I can’t think of a company that wouldn’t hire someone with this kind of stock performance over 30 years.
The issue is really that consumers just keep spending money on things that they hate.
If they didnt do that, Bobby would have been gone a long long time ago
I think you’re right. I’m pointing moee to his leadership and how he has allowed sexism and other bad behavior to go on without any consequences. He even told an assistant that he would have her killed… https://www.pcgamer.com/more-shocking-activision-blizzard-revelations-bobby-kotick-once-told-an-assistant-he-was-going-to-have-her-killed/
He might earn himself and the stockholders a lot of money… But in my eyes he’s a great example of why I don’t like capitalism, but that is another discussion tho!
He’s obviously a terrible human being, I think you have to be to be a wildly successful CEO.
But those are the people who are best at running companies. I wouldn’t be good at it, because I’m not a piece of shit
That’s what sucks about capitalism. We’re allowing thhattype of trash to run it.
Wow I’m very anti capitalist today!
The thing that sucks even more about it is no one even has to ‘allow’ that type of trash to run it, it’s just what tends to happen if the profit motive is the main driver of people’s behavior.
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History isn’t over. We humans can do better.
ATVI’s stock performance only looks impressive if you don’t compare it to anything. Here’s a graph comparing ATVI to ONEQ, which is an ETF that tracks the NASDAQ composite index. If anything, ATVI has been slightly underperforming the market average for most of Kotick’s tenure as CEO.
To see what “outperforming the market” looks like, compare ATVI to NVDA. NVDA’s stock has increased 16,000% in the 15 years that Kotick has been CEO of ATVI.
Or to see some video game company stocks that have outperformed the market, compare ATVI to TTWO (Take Two) or CCOEY (Capcom).
From a purely financial perspective, Kotick was middling at best. He deserves no plaudits. There were plenty of other NASDAQ companies that outperformed the market during the time he was CEO of ActiBlizz, including other video game companies.
I tried to get my parents to buy NVDA during its IPO.
Take two is three times smaller via market cap and Capcom is 8 times smaller, just saying looking at stock price alone doesn’t tell the full picture.
Activision has also done multiple stock splits over the last 30 years.
Stock price charts account for all splits/reverse splits, so it wouldn’t be a factor when comparing price over time.
I agree with the first point though. Even just performing slightly below the market with such a massive company would make Kotick very desireable as a new CEO, unfortunately. Maybe some corps would not be fine with his reputation, but I doubt he will struggle to find a position in a new board room.
The stock price itself does account for it in the charts, but it doesn’t speak to the market cap aspect.
The charts are in percent, not dollars. It doesn’t matter that Capcom is 8 times smaller if investing $1 in it still yields a higher return on investment.
Also, Take Two may be smaller, but… Grand Theft Auto.
Not true, because of stock splits
Also all I’m looking at is market cap, it doesn’t matter what games you like from them lol
When is ONEQ a baseline to track against? Compare it to S&P500 and ATVI looks ahead.
Most consumers just don’t care or don’t know at all who Bobby Kotick is. Call of Duty is so popular, but the people that follow the market or the game industry well enough to know the people behind games aren’t that many.
Limp dick Kotick should have been fired long ago.
I’m out if the loop. Can someone explain?
This is the best summary I could come up with:
It’s “a massive change for the video game industry,” Schreier writes, which seems almost restrained, given Kotick’s longevity and recent history.
Kotick, who has led Activision for more than 30 years and orchestrated its merger with Blizzard, had considered stepping down in late 2021.
Activision was also sued by its shareholders and pressured by state treasurers over its secrecy and responses regarding the California lawsuit.
In early 2022, Microsoft announced its intent to buy Activision, and the timing, according to reports from Bloomberg and the Wall Street Journal, was not a coincidence.
Kotick told VentureBeat after the Microsoft announcement that he didn’t believe the harassment and mismanagement accusations hurt the company’s stock.
He cited delays in shipping Overwatch and Diablo titles, along with Call of Duty’s sales performance.
The original article contains 376 words, the summary contains 128 words. Saved 66%. I’m a bot and I’m open source!
Microsoft must have a policy of no stealing breast milk, poor guy lost his job to that (fr tho, he will get a really nice bonus and will never ‘pay’ for the terrible work environment he created)
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That’ll teach 'em
Remember when kotick threatened to kill an assistant, and then they were fired and paid to not talk about it?
We’ve replaced Kotick with Microsoft lol
And there was much rejoicing
A big upgrade.
We don’t know that yet. I dislike Kotick as well, but doubtful that much changes from the monetization standpoint of the company.
From a purely morale standpoint, it’s mostly a W. But it’s not like Kotick isn’t getting his golden parachute and wiping his tears away with $100 bills.
This fucking goblin enabled systemic rape in his organization. He deserves prison.
ITT: people who think the guy getting a $375M golden parachute is taking a huge L.
employees are “very excited.”
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good boss lol
