Activision CEO is Leaving Coca-Cola’s Board

Bobby Kotick, the CEO of video gaming company Activision, is leaving Coca Cola’s board before the company’s deal with Microsoft closes.

It was in January that Microsoft had announced it was planning to buy Activision for $68.7 billion.

Coca-Cola Co. announced on Friday that Kotick would not stand for re-election to the company’s board of directors.

Kotick said in a statement that he will focus his “full attention on Activision Blizzard at this pivotal time as we prepare for our merger with Microsoft.”

Activision is in the works to complete the sale to Microsoft for $68.7 billion, the largest U.S. technology transaction in history. Microsoft expects the deal to close in the fiscal year ending June 30, 2023.

“I have decided not to stand for re-election to The Coca-Cola Company board in order to focus my full attention on Activision Blizzard at this pivotal time as we prepare for our merger with Microsoft,” Kotick, who served as a company director for 10 years, said.

Kotick, 58, has made headlines for several months. The Wall Street Journal reported last November that women have accused Kotick of misconduct, alleging he didn’t share everything he knew about mistreatment inside Activision with the company’s board.

The family of an employee who committed suicide filed suit on Thursday against Activision in Los Angeles Superior Court, alleging wrongful death.

Kotick received $340,003 in total compensation for his board work from Coca-Cola in 2020, according to an SEC filing.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.