The CEO of Activision Blizzard said he wants to only be paid minimum wage until issues with harassment and discrimination at the company are handled and new measures go into effect.
Bobby Kotick reportedly wrote a letter to employees that the company has five new commitments to deal with ongoing reports of harassment plaguing the company.
He said he’s going to make less money until the issue is resolved.
“I have asked our Board of Directors to reduce my total compensation until the Board has determined that we have achieved the transformational gender-related goals and other commitments described above,” he wrote in the letter.
“Specifically, I have asked the Board to reduce my pay to the lowest amount California law will allow for people earning a salary, which this year is $62,500. To be clear, this is a reduction in my overall compensation, not just my salary. I am asking not to receive any bonuses or be granted any equity during this time.”
Activision Blizzard has faced a bunch of lawsuits this year based on reports of sexual discrimination and harassment of female employees.
To make matters worse, a lawsuit by the California Department of Fair Employment and Housing alleges that the company shredded documents related to its handling of sexual harassment issues.
The company’s also being investigated by the US Securities and Exchange Commission (SEC) for the same issue.
In August, Blizzard president J. Allen Brack left the company “to pursue new opportunities.” Kotick later wrote a letter and said the company would “set the example” on how to handle discrimination moving forward.
An investment group that owns shares in the company said that the CEO’s response to the lawsuit doesn’t go far enough.
“While we appreciate the improved tone and increased detail in CEO Kotick’s recent letter to Activision Blizzard employees, customers, and shareholders, the changes Mr Kotick has announced do not go nearly far enough to address the deep and widespread issues with equity, inclusion, and human capital management at the company,” the letter said.
Published: Oct 28, 2021 09:43 pm