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Six States Call for ‘Sweeping Change’ at Activision Blizzard

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Top Games

Pressure continues to mount on Activision Blizzard to institute major change in the wake of revelations about its toxic work culture.

Pressure continues to mount on Activision Blizzard to institute major change in the wake of revelations about its toxic work culture. / Photo courtesy of Activision Blizzard

Treasurers from six states have called for action at Activision Blizzard amidst turmoil at the company caused by a reported culture of gender-based discrimination and sexual harassment.

Officials from California, Massachusetts, Illinois, Oregon, Delaware and Nevada sent a letter to Activision Blizzard’s board of directors Nov. 23 asking for a meeting to discuss the company’s “response to the challenges and investment risk exposures that face Activision,” per an Axios report.

The letter also says the treasurers would “weigh” a “call to vote against the re-election of incumbent directors.”

State treasuries handle public investments in the stock market, including the allocation of pension funds. Those funds cans represent significant investments in companies such as Activision Blizzard, giving these treasurers crucial leverage to lobby for change at the company.

The letter pours more fuel on the fires raging at Activision Blizzard, where bombshell investigations have uncovered years of misconduct in addition to cover-up attempts by executive leadership, including embattled CEO Bobby Kotick. Employees and investment groups have called for Kotick’s resignation, and industry leaders have expressed disappointment with his company’s handling of the scandal.

“We think there needs to be sweeping changes made in the company,” Illinois state treasurer Michael Frerichs told Axios in an interview.

“We’re concerned that the current CEO and board directors don’t have the skillset, nor the conviction to institute these sweeping changes needed to transform their culture, to restore trust with employees and shareholders and their partners.”

The treasurers asked for a meeting to take place before Dec. 20.

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Source: https://www.dbltap.com/posts/six-states-call-for-sweeping-change-at-activision-blizzard-01fny6swdwgd?utm_source=RSS

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