Activision CEO Bobby Kotick will depart Coca-Cola’s board earlier than Microsoft deal closes

Coca-Cola Co. mentioned Friday that Bobby Kotick, CEO of online game writer Activision Blizzard, wouldn’t stand for re-election to the corporate’s board of administrators.

Kotick is stepping down as the corporate works to finish the sale to Microsoft for $68.7 billion, the biggest U.S. expertise transaction in historical past. The deal was introduced in January, and Microsoft expects it shut within the fiscal 12 months ending June 30, 2023.

“I’ve determined to not stand for re-election to The Coca-Cola Firm board with a purpose to focus my full consideration on Activision Blizzard at this pivotal time as we put together for our merger with Microsoft,” Kotick, who served as an organization director for 10 years, mentioned in a assertion.

Kotick, 58, has emerged as a controversial determine in latest months. The Wall Avenue Journal reported in November that girls have accused Kotick of misconduct, alleging he did not share every thing he knew about mistreatment inside Activision with the corporate’s board. The household of an worker who dedicated suicide is now suing Activision, alleging wrongful demise, the Washington Submit mentioned earlier on Friday.

Kotick’s involvement in politics additionally has drawn scrutiny. By secret firms, he funded Republican campaigns in 2020 in addition to to GOP causes, CNBC reported final month.

Coke has a monetary relationship with Activision, however the beverage big’s board decided the connection wasn’t materials, partly as a result of sponsorship agreements represented lower than 1% of Activision’s gross income, based on the proxy assertion.

Kotick obtained $340,003 in complete compensation for his board work from Coca-Cola in 2020, the proxy assertion mentioned.

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