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In the midst of massive layoffs, the CEOs of Electronic Arts and Activision Blizzard have been named among the 100 most overpaid CEOs by a non-profit shareholder advocacy group.
On Thursday, As You Sow released its annual list of "Top 100 Most Paid CEOs" for 2019. The two CEOs of Electronic Arts, Andrew Wilson, ranked 98th, and the CEO of Activision Blizzard, Bobby Kotick, 45 years old. Kotick receives $ 28.7 million a year, while Wilson receives $ 35.7 million a year. Remarkably, the report mentions among its "key findings" that companies whose CEOs are overpaid have "significantly underperformed" the S & P 500, although no video game developer has been specifically cited for its underperformance.
Last week, Activision Blizzard laid off about 800 employees after a record year of revenue. In the same press release describing the company's realignment, a cash dividend was also announced, increasing shareholder payments by about 9%, according to the Gamasutra video game site.
The report also highlights the relationship between CEO compensation – as reported at annual shareholder meetings – and the compensation of the company's median employee. EA employs 371 times more medial employees of Electronic Arts than Kotick, 306 times more than Medial employees of Activision Blizzard.
Electronic Arts is the publisher of video games Anthem, The Sims and the Battlefield series. Activision Blizzard video games include Call of Duty series, World of Warcraft and Diablo III.
The As You Sow report shows how CEO salaries have skyrocketed over the last decade, with the average CEO salary increasing by more than $ 2 million between 2013 and 2017, according to Institutional Shareholder Services, while 39; Economic Policy Institute found a rate of 17.6%. CEO's average salary increase among the top 350 companies in the US since 2016
While multifactorial and part of a long-term trend of the highest income brackets capturing the vast majority of the US economy's growth, the law on the reduction of employment and the job creation, promulgated in late 2017 by President Donald Trump, has accelerated wage disparities among leaders by eliminating loopholes and lowering corporate tax rates, economies that have been largely absorbed by the executive and shareholder compensation, rather than creating jobs.
The names of Walt Disney, Mattel, Halliburton, Comcast, Netflix, AT & T, BlackRock, Ralph Lauren, Johson & Johnson, PepsiCo, Raytheon, Goldman Sachs Group, Walmart, Pfizer, Exxon Mobil and JPMorgan are also listed on the list. Chase and, top of the list, Fleetcor Technologies CEO, Ronald F. Clarke, who earns more than $ 52.6 million a year for a ratio of 1,517 to one compared to its workers.
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