Publishing giant Take-Two has doubled the compensation of two of its top executives.
As spotted by Axios, the company wrote in its annual proxy filing that CEO Strauss Zelnick (pictured) and president Karl Slatoff would see a combined compensation of $72.3 million. That's split across cash and stock. The two actually contract their services to Take-Two via Zelnick Media Capital and have done for some time now. Per this agreement, Zelnick receives 60 per cent of the compensation, while Slatoff receives the remaining 40 per cent.
During the 2022 fiscal year, the duo received $30,040,000 in compensation.
For this new compensation, $43.8 million is tied to company performance, while almost 25 per cent is tied to recurrent consumer spending – i.e. microtransactions and season passes.
"Fiscal 2023 was a milestone year in Take-Two’s 30-year history," Take-Two's compensation committee wrote.
"Our combination with Zynga marked a transformative evolution of our Company, as we significantly diversified our business operations and established a leadership position in mobile, the fastest growing segment of the interactive entertainment industry. The combination with Zynga has been highly accretive to our business and we see substantial runway ahead of us as we capitalise on new revenue-driven opportunities while also realising our anticipated cost synergies. Looking ahead, we are excited about Take-Two’s strategic position within our industry and believe that we can continue to scale our business to grow margins and ultimately deliver long-term value for our shareholders."