Threaten potential vote against board members.
The calls for change at Activision Blizzard are continuing – and now treasury officials from six US states are getting involved.
Treasurers from the states of California, Massachusetts, Illinois, Oregon, Delaware and Nevada have collectively asked to meet with Activision Blizzard’s board to discuss the company’s response to the recent allegations of sexual harassment, assault and inappropriate behaviour.
The move piles more public pressure on the company – and particularly its board, which has so far stood by controversial CEO Bobby Kotick.
In the US, state treasuries handle public investments in the stock market – and in companies such as Activision Blizzard – where money from the state’s pension pots, say, might be sat.
Activision Blizzard’s share price has slumped since this summer, when word of the first lawsuit against the company surfaced. It has plunged further over the past few weeks of headlines.
“We think there needs to be sweeping changes made in the company,” Illinois state treasurer Michael Frerichs told Axios, saying that the group of treasurers was weighing up a vote against the re-election of current board members.
“We’re concerned that the current CEO and board directors don’t have the skillset, nor the conviction to institute these sweeping changes needed to transform their culture, to restore trust with employees and shareholders and their partners.”
The state treasurers have called on Activision Blizzard to meet with them before 20th December.
Yesterday, Activision Blizzard protest organiser Jessica Gonzalez announced her resignation from the company, slamming Kotick for “inaction and refusal to take accountability”.