Although Microsoft said Activision Blizzard CEO Bobby Kotick will stay after the deal closes, reporting to Xbox head Phil Spencer, but informed Kotick will leave after the deal closes, the people said.
Microsoft and Activision Blizzard have both agreed that Kotick will leave after the deal closes, which could take 12 to 18 months, the people said. If so, Kotick won’t come home empty-handed either. He owns nearly 4.1 million shares of Activision Blizzard, which are worth $388.9 million (about $2.471 billion) based on Microsoft’s $68.7 billion purchase price.
Moreover, he may have more. Activision Blizzard’s board controversially awarded Kotick a long-term stock award last year, which remains transferable even if he leaves the company after the deal closes.