Vivendi Would've "Happily" Fired Activision CEO Bobby Kotick
Did you know that one of the most prominent CEOs in the world today was almost fired?
According to court filings obtained by Bloomberg, parent company Vivendi was prepared to fire Activision CEO Bobby Kotick over his refusal to approve any sale of Vivendi's shares that didn't include his investment group.
In October 2013, Activision picked up about 429 million company shares from Vivendi for approximately $5.83 billion. Then, a separate investment group headed by Kotick and Activision chairman Brian Kelly purchased an additional 172 million shares from Vivendi for $2.34 billion. In response to this, Vivendi's CEO Jean-Francois Dubos asked in an email:
"I really wonder who’s going to fire him."
The then-CFO and Activision chairman responded:
"Myself, happily. Tomorrow if you want."
Kotick and Kelly are facing investor claims that their investment group wrongfully benefited from purchasing 25 percent of Vivendi's Activision shares at the same discount offered to Activision. Of course, at the end of the day, whether Kotick is fired or not, he still emerges with a truckload of money. It's just funny that they considered canning him, isn't it?
7/20/2014 9:28:17 PM Ben Dutka