Amid massive layoffs, the CEOs of Electronic Arts and Activision Blizzard have been named among the 100 most overpaid CEOs by a non-profit shareholder advocacy group.
On Thursday, As You Sow released their annual “The 100 Most Overpaid CEOs” list for 2019. Included on the list are both Electronic Arts CEO Andrew Wilson, ranked at 98, and Activision Blizzard CEO Bobby Kotick, at 45. Kotick receives compensation of $28.7 million a year, while Wilson is paid $35.7 million a year. Remarkably, the report cites among its “Key Findings” that companies with overpaid CEOs “markedly underperformed” the S&P 500, though neither video game developer was cited specifically for underperformance.
Last week, Activision Blizzard laid off an estimated 800 employees after a year of record earnings. In the same press release describing the company’s realignment, a cash dividend was also announced, increasing payouts to shareholders by approximately 9 percent, according to video games business site Gamasutra.