A number of shareholders have said that Activision Blizzard CEO Robert Kotick should resign from his position at the company
In a letter to fellow shareholders, a coalition of investors said that the chief exec should step down from his role following a damning expose from the Wall Street Journal, which says that Kotick knew about allegations of misconduct levelled against staff and did not inform the board. The report also shows that Kotick himself had been the subject of accusations of harassment and abuse.
Furthermore, this coalition of shareholders has also called for the resignations of chair of the board Brian Kelly and lead independent director Robert Morgado who have been on the Activision Blizzard board since 1995 and 1997 respectively.
This group of investors – comprised of SHARE, NEI Investments, Verve Super, Future Super and SOC Investment Group – wants all three members of management gone by December 31st, 2021.
"Our company faces an unprecedented workplace crisis of its own making," the letter said.
"As new reporting indicates, and 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 systemic nature of the company’s hostile workplace culture. Moreover, and despite numerous government investigations, settlements, and top executives’ departures that have negatively affected both the company’s public reputation and its share price, the board has been almost entirely silent."
Following the Wall Street Journal report, a release was published on Activision Blizzard's investor relations portal saying that Kotick had the full confidence of the company's board.