ANZ Faces Legal Battle as Former CEO Shayne Elliott Sues Over A$13.5 Million Bonus Dispute 
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide 
Trello Outage Disrupts Users as Access Issues Hit Atlassian’s Work Management Platform 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Nvidia Weighs Expanding H200 AI Chip Production as China Demand Surges 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Nomura Expands Alternative Assets Strategy With Focus on Private Debt Acquisitions 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Activision Blizzard’s chief executive officer, Bobby Kotick, is leaving the company. He is set to step down before the new year.
Kotick’s departure comes after Activision Blizzard was finally sold to Microsoft Corporation in a $69 billion deal after overcoming a number of regulatory setbacks. He will vacate his post as the company’s head on Dec. 29, and this was announced on Wednesday, Dec. 20.
Completion of Activision Blizzard and Microsoft’s Acquisition Agreement
The deal between the companies went through many ups and downs amid regulatory scrutiny in the United Kingdom, United States, and Europe. The acquisition received the “go ahead” signal; thus, the sale was finally completed in October this year.
Before the completion of the sale, Kotick already expressed his plans to step down as CEO by the end of the year after more than two decades of service. He first joined the video gaming firm in February 1991 and has held different senior executive roles since then. He has been Activision Blizzard’s director and CEO since July 2008, according to CNBC.
This acquisition was said to be the largest in the history of Microsoft’s business. The merger was first revealed in January 2022.
Kotick’s Message to the Activision Blizzard Team
Bobby Kotick confirmed he is leaving the company. He made the announcement two months after Activision Blizzard’s merger deal with Microsoft was completed.
“Forty years later, as my last day leading this company inches closer, I marvel at how far the talented people at our company have come toward realizing the great potential of games,” Kotick wrote in his memo addressed to Activision Blizzard’s employees. “You have transformed a hobbyist form of entertainment into the world’s most engaging medium. It has been the privilege of my lifetime to work alongside you as we broadened the appeal of games.”
The outgoing CEO further said, “Perhaps the most important part of my job has been to help bring talented people together, provide the best resources possible, and foster an environment that encourages inspiration, creativity, and unwavering commitment to excellence. I will always be profoundly grateful to the people who contributed tirelessly to building this company and I am confident you will keep inspiring joy and uniting people through the power of play.”
Photo by: Sergey Galyonkin/Flickr (CC BY-SA 2.0)
