Group Of Activision Shareholders Urge CEO Bobby Kotick, Two Directors To Resign

Group Of Activision Shareholders Urge CEO Bobby Kotick, Two Directors To Resign

Share to Linkedin A small group of Activision Blizzard shareholders has sent a letter to the board calling for the resignation of two directors and CEO Bobby Kotick, who has been accused of failing to address grave employee misconduct despite knowing about it, a day after a bombshell report by the Wall Street Journal and employees staged a walkout demanding Kotick step down. The shareholders hold a combined total of 4. 8 million shares, the Post first reported, which is just 0. 6% of Activision's total shares, but their letter adds additional weight to employees' calls for Kotick to resign. The shareholders also demanded Brian Kelly, the chairman of the company's board of directors, and Robert Morgado, the company's lead independent director since 1997, retire by the end of next month. The Strategic Organizing Center Investment Group, which holds 3. 8 million shares of Activision, spearheaded the joint letter, which was also signed by NEI Investments, Future Super, Shareholder Association for Research & Education and Verve Super. A public relations official at Vanguard, one of the top institutional shareholders in the company with more than 64 million shares, and a media relations official for SSgA Funds Management, which holds around