Update: The Institutional Shareholder Services (ISS) will join calls with Electronic Arts investors as they vote against the company's pay plan.
As reported by Bloomberg, investors are not happy with the amount that EA executives are being paid. For example, CEO Andrew Wilson is earning 56 per cent more than other chief execs. An annual meeting will be held on August 6th, at which investors can make their voices heard in regards to overpayments.
"While recognizing the need to retain top executives, investors may expect special awards to be relatively infrequent and may question executives receiving multiple special awards in a relatively short period of time," said the ISS.
Original story: Investment firm CtW Group has said that US publisher Electronic Arts is giving some of its execs too much pay.
In a letter to EA shareholders, the firm urged them to vote against a proposed pay plan, claiming that its CFO Blake Jorgensen and Ken Moss, its chief technology officer, were being paid millions while workers were laid off.
CtW claims that EA laid off four per cent of its workforce during 2019, with execs still receiving above average bonuses.
Too much money
"Electronic Arts appears to be developing a special award grant addiction," the latter read.
"The company has seen fit to grant some executives yet another retention award in fiscal 2020 after already granting them one in fiscal 2018, even when the performance period for the first special award has yet to conclude. Specifically, in June 2017 (EA's fiscal year 2018), EA executives Blake Jorgensen and Kenneth Moss , among others, received substantial equity awards on top of their already above-median compensation levels that year: Jorgensen received an additional $10 million special equity grant on top his $6.5 million annual grant, and Moss received an additional $7 million on top of his $5.5 million dollar annual award."
You may CtW Group for also saying that Activision Blizzard chief Robert Kotick had been "unnecessarily enriched" by the company earlier this year in a similar letter to shareholders of that company.
This story first appeared on PCGamesInsider.biz.
Additional reporting by Kayleigh Partleton.
