Ubisoft CEO Yves Guillemot Takes 30 Percent Pay Cut After Missing Financial Targets
Ubisoft CEO Yves Guillemot is a poorer CEO in 2022. With Ubisoft on track to miss its annual financial targets, its CEO has decided to take a 30% pay cut in solidarity with the struggling French publisher.
As noted in Ubisoft’s Universal Registration Document--an optional financial document companies in the EU to provide an interim update on their financial results--Guillemot will take a 30 percent pay cut this year, losing €310,607 ($326,000 USD) of his salary.
This information is in the document’s fine print and is quietly described as a "decision of the chairman and CEO." Related: Assassin's Creed's Boring Showcase Highlights How Stagnant The Series Has Become Guillemot will still be making €624,824 ($657,000 USD) this year, but it’s far less than the €1.03 million ($1.08 million) he’d earned the year before. "This is a personal decision by Yves Guillemot," an Ubisoft rep told Axios, "which he took considering that the company had not reached the financial targets that it had publicly communicated to the markets." This pay cut stems from Ubisoft missing its financial targets for the year, with operating profit down 14 percent and net bookings down 5 percent.
Ubisoft’s stock has also lost almost half its value from around this time in 2020, the year Ubisoft was rocked by several sexual misconduct scandals.
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