End Of An Era: Activision Blizzard CEO Bobby Kotick Confirms Exit After Microsoft Deal

Following Microsoft Corporation's (NASDAQ: MSFT) acquisition of Activision Blizzard Inc (NASDAQ: ATVI), Activision's controversial CEO Bobby Kotick plans to resign, bringing an end to his 30-year tenure at the helm.

In an email to all Activision Blizzard employees, Kotick announced he will remain in his role until the end of 2023 and that he will report to Xbox boss Phil Spencer.

"I have long said that I am fully committed to helping with the transition. Phil has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players," Kotick wrote.

See Also: Microsoft's Gaming Powerhouse Grows - Activision Blizzard Bought For $69 Billion

On a similar note, Spencer said to his employees: "We couldn’t be more excited that Activision Blizzard employees are our colleagues, co-workers, and teammates."

Xbox's head added that he would share more updates about the company's new organizational structure in the coming months.
The buyout of Activision by Microsoft, valued at a staggering $69 billion, stands to make Kotick one of the wealthiest individuals in the gaming industry. In 2022, a securities filing disclosed that Kotick could receive $520 million from the sale.

However, his tenure as CEO has been marred by numerous controversies, including allegations of sexism, a toxic work culture, and failure to address serious misconduct within the company.

Activision Blizzard faced a lawsuit from California's Department of Fair Employment and Housing in July 2021, which accused the company of maintaining a "frat boy" culture.

Recently, it was hit with another complaint by the Communication Workers of America union.

Read Next: Bobby Kotick, Activision Blizzard's CEO: 'We Did Not Have A Systemic Issue With Harassment — Ever'

Image credits: Sergei Elagin on Shutterstock.