Activision Blizzard CEO Bobby Kotick will step down from Coca-Cola's board. Kotick, who has served as a director of Coca-Cola Company since 2012, recently announced that he would not run for re-election because he intends to devote more time to this work before Activision Blizzard plans to be acquired by Microsoft.
In January, Xbox announced its intention to acquire Activision Blizzard for $68.7 billion, the largest deal ever made in the gaming industry Microsoft will have exclusive licenses including Call of Duty, Warcraft, Overwatch, Crash Bandicoot and Guitar Hero, which is expected to close in the first half of 2023.
Kotick said in a statement: "At a critical time when Activision Blizzard is preparing to merge with Microsoft, I have decided not to run for re-election to the board of directors of Coca-Cola in order to focus my full attention on Activision Blizzard. For the past 10 years, it has been an honor for me to serve on The Board of Directors of Coca-Cola. ”
In recent months, Kotic has come under fire for allegedly fueling a harmful workplace culture at Activision Blizzard. Last November, a Wall Street Journal report said Kotick was aware of multiple allegations of sexual misconduct by Activision Blizzard.
A Activision spokesperson said of the allegation: "Mr. Kotick promptly apologized 16 years ago for the apparently exaggerated and inappropriate voicemail, and to this day he still deeply regrets the exaggeration and tone in the voicemail." Activision Blizzard's board of directors also issued a statement at the time, saying it remained confident in Kotic's leadership. Kotic is expected to leave the company after the deal with Microsoft is complete.