After a recent organized walkout by Activision Blizzard employees to call out Bobby Kotick, CEO of Activision Blizzard, for his resignation, a group of shareholders have now asked the same thing via a letter written to the company’s board of directors.
These Activision Blizzard shareholders hold a total of 4.8 million shares in the company, which means they have a small portion of power for making changes. It is led by the Strategic Organizing Center Investment Group. They have also called for the resignation of the board’s two longest serving directors, Brian Kelly, and Robert Morgado. They have been in the board since 1995 and 1997 respectively.
This happened after a new report from Wall Street Journal that implicated Kotick. They claimed that not only did he know about the sexual misconduct being rampant in the company workplace, but he also did not do anything and ignore them all.
In the letter, the shareholders revealed that if their demands of these particular people involved will not step down by December 31, 2021, they will not vote for reelection of the current board of directors at the annual shareholders meeting that will be happening in June 2022. They are also asking other shareholders to do the same thing they did.
Continuing with the letter, the shareholders revealed to the board of directors about Kotick’s history and how he ignored the incidents of sexual harassment and more.
After the several incidents that had happened in Activision Blizzard and the recent controversial exit of Jennifer Oneal, the former Co-Head of Blizzard Entertainment, public opinion is at an all-time low. Other investment groups and shareholders might just feel the same way too later on.