Bobby Kotick, the CEO of Activision Blizzard, has seen a strong trading day following their announcement that they will be launching a new Call of Duty title in 2019. The company’s stock price jumped by nearly 8% and closed at $59.62 per share on Wednesday (January 3rd) before opening at $60.47 per share today (January 4th).
Activision Blizzard is the second-largest video game publisher in North America and Europe. It was founded in 1979 as an independent developer and distributor for Atari games. Eventually, it published other titles such as Crash Bandicoot, Spyro the Dragon, or Tony Hawk Pro Skater series. In 2008 it became a wholly-owned subsidiary of Activision, an American video game developer, and publisher.
Bobby Kotick is the CEO of Activision Blizzard and has a net worth of $16 million. He earned his bachelor’s degree from the University of California in Los Angeles and enrolled at UCLA Anderson School of Management to obtain an MBA degree. While still working on his master’s degree, Bobby started working for Bally Manufacturing as a chief financial officer (CFO). Later, he served in various executive positions. Kotick met Brian Kelly, then president and COO at medical software company MediSense Inc. later renamed Healtheon Corporation after merging with another firm called WebMD Health Corp. In 1998 when Bobby Kotick decided to leave the gaming industry by selling off his shares in two companies, he persuaded Brian Kelly to help him start Activision Blizzard.
Activision Blizzard is one of the world’s most profitable video game publishers. It has over $US six billion yearly revenue and employs nearly ten thousand people across its numerous studios. The company’s CEO, Bobby Kotick, is known for his aggressive cost-cutting measures, which have included layoffs and canceling projects. Still, it seems that this strategy has paid off as Activision Blizzard continues to be a dominant player in the gaming industry. In an interview with Bloomberg last year, Kotick said, “What we try not to do is focus on things that are outside our control.”
Learn more about Bobby Kotick: https://www.inc.com/darren-heitner/bobby-kotick-is-the-king-of-e-sports-in-2016.html