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.
Although those scandals still haunt Ubisoft, it’s a lack of hit games that’s dragging down the publisher’s finances. Prince of Persia was delayed, Skull & Bones is taking far longer to develop than initially planned (and still doesn’t have a solid release date), and Ghost Recon Breakpoint was a flop.
Ubisoft did at least hit its hiring targets for better gender diversity. Originally aiming for 24 percent women by
Read more on thegamer.com
