In a recent press release, Activision CEO Bobby Kotick has revealed that he has asked the company’s Board to cut his salary. Bobby Kotick’s salary will supposedly be cut down to the lowest that California’s labour laws allow for.
This seems to be a direct response to the ongoing barrage of lawsuits on the company following reports of sexual misconduct and discrimination. Kotick was one of the most overpaid CEOs while employees within the company had complained about being underpaid, which makes the whole affair rather interesting.
The press release reads, “I have asked our Board of Directors to reduce my total compensation until the Board has determined that we have achieved the transformational gender-related goals and other commitments described above. Specifically, I have asked the Board to reduce my pay to the lowest amount California law will allow for people earning a salary, which this year is $62,500. To be clear, this is a reduction in my overall compensation, not just my salary. I am asking not to receive any bonuses or be granted any equity during this time.”
The publisher is also putting $250 million into diversity initiatives, so as to attract more women and transgender employees within the company. Kotick says, “We will increase the percentage of women and non-binary people in our workforce by 50% and will invest $250 million to accelerate opportunities for diverse talent.”
Activision Blizzard’s lawsuit is probably one of the biggest and most controversial developments in the industry of recent memory, and the long investigation has led to many key departures – including Blizzard president J. Allen Brack. The publisher has been taking steps to clear its reputation, even recently renaming Overwatch playable hero McCree to Cole Cassidy.