SvennoJ said:
And what's the difference now? Where do you think that money from the acquisition goes, right into the pockets of the shareholders and current management. This deal is very likely the reason why the board kept Kotick on, and now he's still going to be there for yet another year to leave with a golden parachute after. |
I don't see the difference, if someone other than Microsoft acquired them, it'd be the same scenario, they would get their golden parachute. If nobody acquired them, well, Bobby owns 4.1 million shares in Activision-Blizzard (worth a few hundred million) so even if the board removed him, which was always unlikely as they've had plenty of opportunities to do so, he would still be making large amounts from ABK.
The slimy prick also had a bunch of compensation clauses too which guaranteed him payoffs through both fired with cause and fired without cause. He has long term stock incentives that can be transferred to him even if he leaves the company (worth $106m), his terms suggest he can get the money even if asked to leave. He has golden parachutes if terminated due to a "change in control"
Stockholders have also had opportunities to get rid of the board, including Bobby but they never did, even as recently as June 2022, stockholders voted overwhelmingly (91%) in favour of re-electing Bobby and the other 9 members of the board until June 2023 (yearly vote I believe). And again, even if they kicked Bobby from the board, they can't take his shares off him.
Unfortunately, despite being a massive dickhead, Bobby is an extremely successful businessman and turned ABK into the most profitable 3rd party publisher in the gaming industry, even today. I'm of the opinion that unfortunately this would have all blown over, Activision's stock would rebound on the next CoD (Modern Warfare 2) since it has massive hype behind it and likely, again, unfortunately, everyone would move on.
If Kotick is terminated for cause he is entitled to benefits. If Kotick is terminated without cause (or chooses to leave for good reason) he is entitled to even more benefits ($270m). He has got clauses whether the board terminates him, Microsoft terminates him, or he leaves of his own accord. Activision also is required to reimburse Kotick for up to $80,000 per year of life insurance premiums until the 10th anniversary of his employment agreement on October 1, 2026.
Point is that no matter what, there is not a single scenario where Bobby is leaving Activision-Blizzard without a huge pay package, not to mention he's already rich as fuck, it's unfortunate, short of him going to prison for something there's nothing anyone can really do, simpler to pay him and the rest of the board to fuck off out of Activision-Blizzard forever, at least they'll be free of him.
Last edited by Ryuu96 - on 07 October 2022








