Bobby Kotick will receive a whopping pay of $155 million following the latest approval by investors. Activision Blizzard CEO, who helped the publisher achieve record financial results, remains the longest-running CEO of a public tech company.
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Shareholders voted on Bobby Kotick’s compensation on June 21, according to Reuters. The executive will receive his huge pay package despite the recent criticism.
Although investors approved the compensation, only 54% voted for it. CtW Investment Group, which has been trying to reduce Kotick’s payment for years, said that it is the lowest number ever. “Activision will be expected to make even further changes in response to a vote where 46% of shareholders expressed discontent,” CtW Investment Group director of executive compensation research Michael Varner said.
However, the company’s spokesperson told Kotaku that Kotick “has transformed Activision Blizzard, achieved record results, doubled the value of the company, and delivered more than $45 billion in additional shareholder value since his employment agreement took effect in October 2016.”
Earlier this year, Kotick agreed to reduce his annual salary from $1.75 million to $875,000. However, most of his money still comes from annual bonuses. For example, most of the Activision Blizzard CEO’s $155 million package is tied to a 2016 goal of doubling the publisher’s market capitalization.