Activision Blizzard CEO Bobby Kotick Could Make $350 Million From Microsoft Acquisition
Microsoft recently announced its acquisition of Activision Blizzard, which caused speculation about the future of both companies. The purchase will set Microsoft back a whopping $68.7 billion, and Activision Blizzard CEO Bobby Kotick stands to benefit greatly from the transaction.
Microsoft broke gaming industry acquisition records yesterday after it stated that it would be acquiring Activision Blizzard for nearly $70 billion. Included with the statements made by executives involved were mentions of the metaverse, expanding the Game Pass Ultimate offerings, and improving cloud gaming to bring Xbox titles to a variety of devices. Many fans wondered what would happen with Bobby Kotick, and his role at Activision Blizzard beyond the acquisition. Currently, he stands to gain financially should he be ousted as CEO.
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According to an Activision filing with the US Securities and Exchange Commission, if Bobby Kotick is terminated as CEO of Activision Blizzard within twelve months of a change in control, such as the upcoming Microsoft one, Kotick will receive payments and benefits totaling $292,970,341. Kotick maintains a significant chunk of Activision Blizzard stock, with around 3,908,698 shares as of August 7, 2021, which he could sell as part of Microsoft's agreement to buy the company at $95 a share for around $370 million.But many Activision Blizzard shareholders have called on him to resign, which would forgo the termination clause gains.
Kotick's contract filed with the US SEC specifies that the CEO could receive the $292,970,341 package for being terminated "without cause or for good reason" during the twelve months following the finalization of the
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