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Shareholder objects to Activision CEO Kotick's renomination to Coca-Cola board

Published 12/09/2021, 11:51 AM
Updated 12/09/2021, 01:56 PM
© Reuters. Bobby Kotick, chief executive officer of Activision Blizzard, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid
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(Reuters) -A Coca-Cola (NYSE:KO) Co shareholder asked the beverage giant on Thursday to not renominate Activision Blizzard Inc (NASDAQ:ATVI)'s Chief Executive Officer Bobby Kotick to its board, as the video game company deals with lawsuits on workplace harassment.

Allegations of sexual harassment and discrimination at Activision earlier this year led to more than 20 employees being fired and 20 more individuals facing other forms of disciplinary action.

SOC Investment Group, which is also an adviser to pension funds, said Kotick bears "primary responsibility for the longstanding 'frat boy' corporate culture" that has put Activision under pressure and brought in lawsuits.

"The time and attention that Kotick will need to devote to the cultural crisis at Activision ought to preclude his ability to effectively serve as a director of a major global brand," SOC said.

© Reuters. Bobby Kotick, chief executive officer of Activision Blizzard, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid

Coca-Cola did not immediately respond to a request for comment, while Activision declined to comment.

SOC said it would also oppose Kotick and Coca-Cola's lead independent director Maria Elena Lagomasino's re-election, if Kotick was nominated.

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