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Bobby Kotick stepping down from Coca-Cola to focus attention on Activision Blizzard

Following acquisition by Microsoft

Bobby Kotick stepping down from Coca-Cola to focus attention on Activision Blizzard

Last week, The Coca-Cola Company revealed that Bobby Kotick has decided against standing for re-election to the board of directors,

Kotick has been part of the Coca-Cola board since 2012 but will not stand for re-election in order to focus on the acquisition of Activision Blizzard by Microsoft.

The acquisition, which was announced earlier this year, is the largest video games acquisition of all time at almost $70 billion, with Microsoft having paid a premium of 45 per cent per share.

Activision Blizzard's mobile games revenue in 2021 accounted for $3.1 billion to total revenue, and whilst this was an increase over its 2020 mobile performance, the company fell beneath overall projections for Q4 2021.

Acquisition focused

"I have decided not to stand for re-election to The Coca-Cola Company board in order to focus my full attention on Activision Blizzard at this pivotal time as we prepare for our merger with Microsoft," Kotick said. "It has been a pleasure and a privilege to serve on the Coca-Cola board for the past 10 years."

Coca-Cola CEO and chairman James Quincey commented: "We appreciate Bobby’s decade of service to our company. We wish him all the best."

Since July 2021, Activision Blizzard has come under scrutiny for its company culture and the subsequent lawsuit by the California Department of Fair Employment and Housing, as well as staff walkouts across the company.

 


Staff Writer

Aaron is the Staff Writer at PG.biz and has long enjoyed a good turn-based strategy game. He has spent many more hours playing Fire Emblem Heroes than he cares to admit.