In a significant development following Microsoft's completion of its acquisition of Activision Blizzard, CEO Bobby Kotick is set to bid farewell to the gaming giant by the end of this year.
Bobby Kotick will leave Blizzard on the first day of 2024
Kotick shared his sentiments in an email addressed to employees, which was also published on Activision Blizzard King's official website. He expressed his excitement about the company's future as part of the Microsoft Gaming family, referring to it as the "bright green Xbox umbrella." To ensure a seamless transition, Kotick revealed his intention to temporarily retain his position as CEO of Activision Blizzard King, reporting directly to Microsoft Gaming's CEO, Phil Spencer.
Phil has asked me to stay on as CEO of Activision Blizzard King, reporting to him, and we have agreed that I will do that through the end of 2023.
Bobby Kotick
Notably, Kotick is expected to receive a substantial compensation package of over 375 million USD as a result of the completed acquisition deal.
The departure of Kotick had been widely anticipated in light of Microsoft's acquisition of Activision Blizzard for a staggering 68.7 billion USD. This landmark acquisition, which concluded following nearly two years of regulatory hearings, including an unsuccessful bid by the Federal Trade Commission to block the deal, now integrates Activision Blizzard's extensive game library into the Microsoft Xbox family.
Microsoft's Acquisition of Activision Blizzard Leads to CEO Bobby Kotick's Departure
Kotick played a pivotal role in shaping the gaming industry during his tenure. In 2008, he orchestrated the merger of Activision with French developer Vivendi Games, leading to the formation of Activision Blizzard. Subsequently, in 2015, Activision Blizzard acquired Candy Crush developer King for a remarkable 5.9 billion USD, solidifying its position as a dominant player in the gaming landscape.
However, Kotick's later years as CEO were marred by a series of challenges, including discrimination lawsuits, significant labor organization efforts, allegations of union interference, complaints of unfair labor practices, employee walkouts, layoffs despite record profits, and employee petitions calling for his resignation. As he steps aside, the gaming world watches with anticipation to see what the future holds for Activision Blizzard under its new Microsoft leadership.
Source: The Verge