Bobby Kotick commits to staying on as the CEO of Activision Blizzard until the end of the year. That means, for the time being, the CEO will be reporting to Phil Spencer, the boss of Xbox.
Bobby Kotick Staying As CEO of Activision Blizzard
Following the confirmation in the early parts of today (October 13) that the acquisition of Activision Blizzard by Microsoft has been closed, it has now been announced that Activision Blizzard CEO Bobby Kotick will reportedly be staying in his role until the end of the year, but it is however implied that he will be stepping down in the coming year.
In an email that was sent to employees (reportedly shared on the Activision Blizzard website), Kotick revealed that, with the deal complete, “Today marks a milestone in our company’s celebrated history.” He then added: “This moment is possible because of your efforts over four decades to innovate, inspire, and achieve.”
However, while he has confirmed that he will be seeing the transitional period of the merger through, he also insinuated that he will not be sticking around forever. He wrote: “I have long said that I am fully committed to helping with the transition. Phil [Spencer] has asked me to stay on as CEO of ABK, reporting to him, and we have agreed that I will do that through the end of 2023. We both look forward to working together on a smooth integration for our teams and players.”
It has been quite the day for Microsoft and Activision. Initially, it was reportedly announced by the competition regulator of the United Kingdom, the Competition and Markets Authority (CMA), that it had already given its official approval of the acquisition deal.
Reasons the Deal Was Initially Locked By the CMA
Over a couple of five months ago, the regulator reportedly blocked the merger over its concerns in regard to the impact that it could have on competition in the cloud gaming market of the United Kingdom in general. Microsoft in question then amended its proposal and stated that it would be selling cloud streaming rights for both current and new Activision games (that are released over the next 15 years) to Ubisoft.
This very alteration in question was considered satisfactory, and Martin Coleman, the chair of the independent panel who at the time reviewed the original proposal, today stated that the deal is now “better for competition, better for consumers, and better for economic growth”.
Xbox Boss’s Statement Regarding the Acquisition
Just a couple of hours later, it was confirmed that the deal had been finalized officially. Xbox boss Phil Spencer in a statement wrote: “Today we start the work to bring beloved Activision, Blizzard, and King franchises to Game Pass and other platforms. We’ll share more about when you can expect to play in the coming months. We know you’re excited – and we are too.”
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