The CEO of a video game company facing lawsuits and investigations over its work environment is speaking out about changes the company will make going forward.
What Happened: Activision Blizzard, Inc. (NASDAQ:ATVI) is stepping up its game to create a safe work environment and be more inclusive with its hiring practices.
“People were deeply let down and, for that, I am truly sorry.”
Activision Blizzard has tripled its investment in anti-harassment and anti-discrimination training.
Kotick outlines five changes the company will make to help workplace culture:
Related Link: Activision Blizzard Pauses BlizzCon: What Investors Should Know
Why It’s Important: The letter from Kotick comes as the company faces lawsuits and an SEC investigation over its work culture.
The steps outlined by Kotick could go a long way to soothe investors and employees.
Kotick also announced he is reducing his pay to the lowest amount allowed by California law, which is $62,500 annually. Kotick said he is asking not to receive any bonuses or any additional equity.
“I am grateful for how much people care about this company, and I appreciate that many past and present employees have reached out with their thoughts, concerns, complaints and suggestions,” Kotick said.
Activision Blizzard is set to report third-quarter earnings on Nov. 2.
Price Action: ATVI shares are up. 0.019% to $78.67 on Thursday morning.
Photo: TriplePoint TriplePoint via Flickr
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