Ubisoft stock rises as Guillemot family reportedly looks to keep control and avoid a takeover

gamepur.com:

While the bulk of toxic allegation attention has been on Activision Blizzard for some time, other video game companies like Ubisoft have also been accused of misconduct. Abuse, bullying, and harassment, were the focal issues for A Better Ubisoft, an employee collective demanding better treatment. Their demands have not been met thus far, to which Ubisoft has acknowledge its “flawed” response. A Better Ubisoft hasn’t called for CEO Yves Guillemot’s removal, but some thought that might be part of the discussion.

Now, however, it seems Guillemot and the rest of his family are instead trying to hold onto control of the company. That’s apparently good for its stock value, as shares rose by 10% after French site Les Echos reported on the family’s plan. Reportedly, the Guillemots are looking to partner with a private equity firm to keep financial control of the company and avoid a takeover. As Seeking Alpha points out, the family currently owns 15.9% of all Ubisoft shares and 22.3% of voting shares specifically.

The Guillemots — and Yves specifically — are far from the only corporate executives under fire right now. Activision Blizzard is being sued by New York City over the recent Xbox acquisition, which was overwhelmingly approved by stockholders. CEO Bobby Kotick is being targeted specifically: the lawsuit alleges that he’s trying to escape liability by rushing through a sale of the company after numerous toxic workplace accusations surfaced.