[ad_1]
Share this article
Companies in this article
Activision Blizzard has postponed the final decision on changes to executive compensation, with shareholders saying they need more time to consider the matter.
The company has been accused of this, specifically the $ 154.6 million compensation for CEO Bobby Kotick, over the past year.
At the company’s annual meeting yesterday, executive compensation was one of the items on the agenda. Most of the items have been approved by investors, but Activision will resume the meeting on Monday, June 21, focusing only on salary issues. Bloomberg Report.
The editors are reviewing and reviewing the company’s recent response to the published and redistributed statement on company executives, claiming delays at shareholder demand are “the best interests of shareholders” for this site. Give enough time to. ”Compensation practices that the company considers deceptive. “
The statement mentioned by Activision includes frequent criticism of the CtW Investment Group, an organization aimed at holding companies accountable for “irresponsible and unethical corporate behavior and excessive executive compensation.” It is.
group Encourage shareholders to vote against last year’s compensation vote proposal. The company claims to continue to grant Kotick an “extra-large stock incentive.” As a result, only 57% of shareholders approved the paid packages. This is a decrease from the previous year.
In March, CtW argued that Activision’s success in 2020 triggered a clause in Cotic’s contract that would allow him to receive a performance bonus that he had previously missed. Up to $ 200 million, depending on the group.
Bloomberg’s overall salary is 2019, mainly thanks to a stock bonus of nearly $ 150 million, while Cotic’s salary has fallen 15% to $ 1.5 million in 2020. He reports ‘an increase of over 400% from $ 30.1 million. This includes rewards for the multi-year goals set out in his employment contract in 2016.
Activision pointed out on its site that Cotic’s salary and cash bonuses fell 50% last year. His remuneration is mainly based on performance.
“Despite the exceptional shareholder returns, the company has made significant changes to respond to shareholder feedback,” said a spokesperson. “The company works more closely with the interests of the CEO and shareholders.”
CtW launched a similar shareholder campaign for Electronic Arts Last year, the FIFA company claimed to have exhibited an “excessive fairness problem”.
We spoke to the group to find out more about how they think companies should change the way they reward executives in 2020.
For the record, Activison then sent a full statement. Clarification of some details of the article. In particular, the postponement of the vote was requested by shareholders, and Kotick’s 2020 earnings include a multi-year reward. Objectives set for 2016.
Activision Blizzard postponed executive pay vote to criticize Bobby Kotick pay
Source link Activision Blizzard postponed executive compensation vote to criticize Bobby Kotick compensation
[ad_2]
picture credit