Activision Blizzard CEO Bobby Kotick could get $520 million after Microsoft’s deal
In Activision Blizzard’s filing with the U.S. Securities and Exchange Commission, CEO Bobby Kotick may leave after the company’s acquisition by Microsoft, and will receive a total of $520 million in “compensation.”
According to the document, if Bobby Kotick is fired within one year of the change of control within Activision Blizzard, or if he leaves for other reasons, he will receive a severance package of $14.4 million. In addition, Bobby Kotick currently holds a total of 4.3 million shares of Activision Blizzard and has the right to acquire another 2.2 million shares, which will make his total severance pay more than $500 million. In addition, the document also shows that Bobby Kotick’s full-year salary in 2021 will be $826,549.
Microsoft expects to complete the acquisition of Activision Blizzard by the end of the fiscal year 2023, and after a majority of shareholders agree to the deal, it still needs the approval of U.S. regulators to successfully complete the acquisition. After the successful acquisition, Activision Blizzard will maintain the independent operation of the brand in the future and will have a deeper integration with the Xbox department. At the same time, the follow-up development will be led by Phil Spencer, the head of Xbox.