I agree! Unless it’s a state-run company, of course.
If I’m being really cynical, I’d say the inverse your statement is more likely to occur in corrupt governments.
Hey bud, news flash. Blizzard is a left coast company run by left coast people with left coast values. Guess that means its greedy lefties not Trump.
1 Like
The company had over $7 billion in sales last year. I really don’t see what the big deal about paying a CFO $15 million is.
I don’t know about the other poster, but thank you for your service.
2 Likes
We all end up where we put ourselves. If you put yourself in a vulnerable position, it was your choice. For it’s as simple as that. If you work private sector there’s always risk associated with it.
Apparently it was a skill set on a resume that someone thought was worth millions. Is your resume worth millions to anyone? I doubt mine is.
1 Like
"During Mr. Durkin’s tenure as Chief Financial Officer of Activision Blizzard, the company delivered strong financial performance, and a greater than 400 percent increase in the stock price during that time. Mr. Durkin also played an instrumental role in executing highly successful transactions including the transformative buyback of shares from Vivendi in 2013, the creation of an efficient capital structure leading to investment grade status, and the value-accretive expansion into mobile through the acquisition of King in 2016. "
That is why Durkin was appointed CFO again. They need him to get the share price back up to what it was. This is also why much of his bonus was tied to him still being at Activision Blizzard come March 2020 and March 2021.
If he wants to make bank on his large , over $11 million stock options he HAS to stay at Blizzard and MUST make sure ATVI meets certain financial goals. And you can guarantee one of those goals must be “the stock price needs to be on the rise not diving to the depths of the ocean”
2 Likes
As a former garrison and order hall commander who ruthlessly abused my leadership position for considerable personal gain, I feel I’m in an awkward position to throw criticism at C-levels in this forum.
Okay.
But here, I’ll quote myself again:
Blizzard isn’t doing well because people aren’t buying or playing their games like they used to. They need to fix that, not re-arrange the deck chairs like they’re doing.
1 Like
Tetris? aka one of the best games ever?
1 Like
Yes, I’m playing Stellaris on my main PC right now (taking a dinner break). Stellaris is produced by Paradox Studios, which is based in Sweden. Sweden is a socialist country.
Paradox has published well over a hundred titles in the last 20 years and makes many of the best games in the world.
(They also make some of the best video game trailers. Try watching this without getting a lump in your throat and tearing up a little:)
3 Likes
It’s the dumbest idea I’ve ever heard
2 Likes
Sweden falls under the Nordic model of Democratic Socialism, a hybrid political philosophy that incorporates free-market capitalism.
2 Likes
That’s what socialism is: capitalism with a human face.
Erm… no.
4 Likes
The greater concern is the CFO is getting stock options as a bonus, and what’s a great way to boost stock prices short term?
Cutting labor and selling off assets.
3 Likes
Erm… yes. Socialism means that the public sector runs something, rather than the private sector.
Public schools? Socialist.
Public roads? Socialist.
Police? Socialist.
Fire Department? Socialist.
Food safety regulations? Socialist.
Millitary? Socialist.
Mediare? Socialist.
Social Security? Socialist - as the name says! ![:smiley:](https://d38bqls1q93fod.cloudfront.net/en/wow/images/emoji/twitter/smiley.png?v=6" ":smiley:")
The U.S. is a socialist country in many ways, and people wouldn’t have it any other way.
3 Likes
People in this thread have largely missed the big issue, though, which is executive pay vs worker pay.
In the USA, workers who make things the company sells get screwed, while executives who lay off those workers get millions in bonuses.
This is not “capitalism”. It’s pretty unique to the USA, and only in recent years.
https://www.statista.com/statistics/424159/pay-gap-between-ceos-and-average-workers-in-world-by-country/
Japan makes lots of great games. The typical Japanese CEO makes 67 times what his workers make.
In the USA? It’s 354 times. Which is just vulgar and excessive.
6 Likes
The higher ups here are scarier than anything else in the game, besides Gnome warriors. shudder
It’s not even the CEO matter of fact Blizzard no longer has a CEO they have just a President ,who answers to the CEO of Activision/Blizzard.
THis is in regards to the guy that was hired to be Activision/Blizzards Chief Financial Officer.
THe money man per say. You know the guy responsible for the financial stability of the company the one who more or less is responsible for allocating funds .
He has barely been in the position for a month and people are acting like everything should be fixed already.
Oh and they blame him for people getting severance packages because of him him getting future stock options as part of his signing bonus for taking the job.
Hate to break it to some of the people in this forum but the fact that a lot of gaming stock took a dive is why they are being let go not because some one took a job that pays real good oh and it would of happened no matter who took the job.