Almost two years after the announcement, Microsoft has officially acquired Activision Blizzard for about $69 billion. Now, in emails from Microsoft Gaming CEO and Xbox head Phil Spencer and Activision Blizzard CEO Bobby Kotick, we know Kotick will remain CEO until the end of 2023. Kotick says Spencer specifically asked him to stay on as CEO until the end of the year. With the transition, now that Activision Blizzard is part of the Xbox first-party umbrella.
Image from Xbox
“I have long said that I am fully committed to helping with the transition,” Kotick writes in an email he sent to all Activision Blizzard. “[Phil Spencer] I have been asked to stay on as CEO of ABK, and we have agreed that I will do so until the end of 2023. We both look forward to working together on a seamless integration for our teams and players.”
“We couldn’t be more excited to have Activision Blizzard employees as our colleagues, co-workers, and colleagues. Bobby Kotick has agreed to stay in his role through the end of 2023, I would like to thank you,” Spencer wrote in an email. To report directly, ensure a smooth and seamless integration. We look forward to working together as a unified team and we will share more updates on our new organizational structure in the coming months.”
Microsoft Gaming CEO and Xbox Head Phil Spencer
Since Microsoft announced its intention to acquire Activision Blizzard nearly two years ago for $69 billion, analysts have expected Kotak to use various “golden parachute” options at its disposal as a result of the purchase. Will benefit from one. As reported. Axis Last year, if Kotick was fired/let go after this buyout, he would have been entitled to a $15 million payout.
Activision Blizzard’s board could also receive up to $22 million in stock if it sees improvements in the company’s culture, following a 2021 report that Activision Blizzard engaged in employee misconduct, sexual harassment and more. did something A later report indicated that Kotick was aware of the company’s history of sexual misconduct, which resulted in employee walkouts demanding his resignation.
Apart from these two options, till February 2022 Axios’ According to the report, Kotick owns 6.5 million Activision Blizzard shares worth $619 million at Microsoft’s price, which he can sell.
While we don’t know definitively whether Kotick will leave Activision Blizzard in 2024, or if he’ll be let go (though Spencer has told him to stay, Kotick will likely transition to the company next year, on his own terms. After, amicably leaving the Xbox umbrella), we now know that Kotak will remain CEO for the rest of the year.
For more, read about how Microsoft finally and officially acquired Activision Blizzard. Afterwards, Kotick was reportedly interviewed by former late-night show host James Corden during an employee meeting about Guitar Hero and more.
Do you think Spencer made the right decision to retain Kotick as CEO until 2023? Let us know in the comments below!