Published , by Donovan Erskine
Published , by Donovan Erskine
We were already well aware of the multitude of issues facing Activision Blizzard and its leadership, but a recent report from The Wall Street Journal exposed even more heinous behavior from company CEO Bobby Kotick. Following the news of Kotick threatening employees and protecting abusers, many are calling for him to step down from his position as CEO of Activision Blizzard. Now, company shareholders are calling for Kotick’s resignation.
The news of Activision Blizzard (ATVI) shareholders demanding that CEO Bobby Kotick resign comes from a report from The Washington Post. A group of shareholders sent a letter to the company’s board of directors following the WSJ report this week. “In contrast to past company statements, CEO Bobby Kotick was aware of many incidents of sexual harassment, sexual assault and gender discrimination at Activision Blizzard, but failed either to ensure that the executives and managers responsible were terminated or to recognize and address the systematic nature of the company’s hostile workplace culture,” the letter reads.
The investors aren’t just calling for Bobby Kotick’s resignation, either. Their letter also calls for Brian Kelly and Robert Morgado, the two longest serving members of the board to step down as well. The group of investors collectively account for $4.8 million USD in ownership of Activision Blizzard (ATVI) stock and are led by the Strategic Organizing Center Investment Group.
If Bobby Kotick, Brian Kelly, and Robert Morgado refuse to resign, then the shareholders state that they will not vote for the reelection of board members at the next shareholder meeting in summer 2022. For future updates on this ongoing situation, visit the Shacknews topic page dedicated to Activision Blizzard.