Big Board Alerts

December 21, 2023
Bobby Kotick to leave Activision before the end of the year

Activision-Blizzard announced today that its long-term CEO Bobby Kotick is stepping down from the role.

After 32 years at the company, Kotick will officially step back from the company on December 29, 2023. This comes two months after Microsoft officially acquired Activision-Blizzard in a $69 billion deal in October.

The acquisition marked a massive increase to Microsoft’s gaming arm, previously limited to Xbox, as the company sought to compete with Sony and Nintendo.

Activision-Blizzard is not without its controversies, however. The last two years have seen the company embroiled in a sexual harassment and discrimination lawsuit, ultimately coming to a close on December 18 as Activision-Blizzard settled for around $54 million.

Although Kotick defended his company in an interview with Variety, maintaining that Activision-Blizzard had “every possible form of investigation done” and that they “did not have a systemic issue with harassment — ever”.

Kotick’s departure was announced via a public-facing memo to the company, complimenting Xbox boss Phil Spencer and stating that, “as we move into our next exciting chapter, you could not be in better hands.”

“I will always be profoundly grateful to the people who contributed tirelessly to building this company and I am confident you will keep inspiring joy and uniting people through the power of play,” Kotick continued.

What is Bobby Kotick’s net worth?

Now leaving the company, Kotick is still set to make a tidy sum from the Microsoft acquisition. As it stands, Kotick’s net worth is around $600 million, according to Celebrity Net Worth.

What’s more, the Verge reports that Kotick is estimated to receive more than $375 million in compensation following Microsoft’s acquisition of Activision Blizzard.

With some free time now on his hands, the businessman is rumored to be eyeing up an investment into UK football, with a potential buy-in to West Ham United

Featured image: Flickr/Tarcil Tarcil via CC 2.0 Licence

The post Bobby Kotick to leave Activision before the end of the year appeared first on ReadWrite.

 

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