Activision Blizzard shareholders group call on CEO to resign
A group of Activision Blizzard shareholders have sent a letter to Activision Blizzard executives asking for CEO Bobby Kotick to resign immediately.
The letter, obtained by The Washington Post, was sent by a group of shareholders that own stock share in Activision Blizzard.
“In contrast to past company statements, CEO Bobby Kotick was aware of many incidents of sexual harassment, sexual assault and gender discrimination at Activision Blizzard, but failed either to ensure that the executives and managers responsible were terminated or to recognize and address the systematic nature of the company’s hostile workplace culture,” the shareholders, led by the Strategic Organizing Center (SOC) Investment Group stated in their letter.
The news comes as the Wall Street Journal dropped a bomb-shell report on Activision Blizzard on November 17, detailing how CEO Bobby Kotick knew about the company’s harassment issues and failed to properly address the situation accordingly over the years.
The WSJ also reported that Bobby Kotick allegedly called a former female assistance and threatened her.
The letter from the group is also asking for Brian Kelly and Robert Morgado, two of the longest-serving board members on the Activision Blizzard board of directors to retire by December 31, 2021, and allow new board members to further shape the future of the company.
“After the new revelations, it’s clear that the current leadership repeatedly failed to uphold a safe workplace — a basic function of their job,” SOC executive director Dieter Waizenegger said to The Washington Post. “Activision Blizzard needs a new CEO, board chair, and lead independent director with the expertise, skill set and conviction to truly change the company’s culture. We need to really have a reset button on the board.”
Activision Blizzard has declined to comment on the shareholder letter at this point.
The company issued a statement on November 16 stating that the WSJ report was “misleading” and “failed” to report on the changes CEO Kotick has made since the initial lawsuit dropped in July.
In addition, the company’s board of directors issued their own statement on November 16 stating they remain “confident” in Bobby Kotick as CEO. Activision Blizzard’s stock has taken a drop since the news surfaced.
Activision Blizzard employee group, A Better ABK, issued their own demand calling for Bobby Kotick to be replaced and staged a walkout on November 16.
We’ll continue to update as this situation unfolds.