Activision Blizzard Board of Directors continues to rely on its ongoing oversight with a new ‘Workplace Accountability Committee’ to ensure the implementation of initiatives to end harassment and discrimination in the workplace | Business
SANTA MONICA, Calif .– (BUSINESS WIRE) – November 22, 2021–
The board of directors of Activision Blizzard (Nasdaq: ATVI) announced today that it has formed a “workplace responsibility committee” (the “committee”), initially composed of two independent directors, to oversee progress of the company in the successful implementation of its new policies, procedures, and commitments to improve the corporate culture and eliminate all forms of harassment and discrimination within the company. The committee is chaired by Dawn Ostroff, independent director since 2020. Reveta Bowers, independent director since 2018, will serve on the committee. In addition, the Company is working to add a new diverse director to the Board.
The committee will require management to develop key performance indicators and / or other means to measure progress and ensure accountability. The CEO, Bobby Kotick, as well as the Chief Human Resources Officer and the Chief Compliance Officer will provide frequent progress reports to the Committee, which will keep the entire Board informed on a regular basis. The committee is empowered to retain the services of external consultants or advisers, including independent legal advisers, to assist it in its work.
The Activision Blizzard Board of Directors is committed to ensuring a healthy workplace in which all employees feel valued, safe and respected. Our audit committee has been kept abreast of developments, including the EEOC and DFEH investigations. The Board supports the many measures taken by management since 2018 to improve the culture in the workplace, including the centralization of the human resources function in 2019 to ensure greater consistency and accountability, and the strengthening and increase of training. and, more recently, improved methods of reporting and responding to complaints of harassment, discrimination and retaliation. Starting in October, the board has met bi-weekly for in-depth assessments of plans and related progress and now also receives detailed written weekly reports. The Board of Directors remains committed to helping make significant additional improvements.
As announced on September 27, 2021, under an agreement with the United States Equal Employment Opportunity Commission (EEOC), the Company, upon approval of the agreement by the court, will hire an EEO coordinator; this coordinator will report directly to the board of directors. The committee will engage regularly with the EEO coordinator and an independent EEO consultant, who will be engaged in accordance with the agreement. The functions of these two separate EEO functions will provide transparency to both the EEOC and the accountability committee at work.
While the company, with the support of the board of directors, has made significant strides in improving the workplace culture, it is clear that the current circumstances demand increased board engagement. The formation of the committee and additional future changes will facilitate additional direct oversight and transparency and ensure that the company’s commitments to the Activision Blizzard workforce are executed with urgency and impact. It has been a difficult time for the company as a whole, but the Board of Directors is confident in the actions being taken to prepare the company for future success.
About Activision Blizzard
Our mission, to connect and engage the world through epic entertainment has never been more important. Through communities rooted in our video game franchises, we empower hundreds of millions of people to experience joy, thrill and achievement. We promote social bonds through the prism of fun, and we encourage purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive play. Video games, unlike any other social or entertainment media, have the ability to break down barriers that can hinder tolerance and understanding. Celebrating differences is at the heart of our culture and allows us to create games for players from diverse backgrounds in the 190 countries where our games are played.
As a member of the Fortune 500 and as a component of the S&P 500, we have had an extraordinary history of superior shareholder returns for over 30 years.
Our sustainable franchises are among the most popular in the world, including Call of DutyÂ®, Crash Bandicoot â¢, World of WarcraftÂ®, OverwatchÂ®, HearthstoneÂ®, DiabloÂ®, StarCraftÂ®, Candy Crush â¢, Bubble Witch â¢, Pet Rescue â¢ and Farm Heroes â¢. Our continued success has enabled the company to support corporate social responsibility initiatives that are directly linked to our franchises. For example, our Call of Duty Endowment has helped find employment for over 90,000 Veterans.
Find out more about Activision Blizzard and how we connect and engage the world through epic entertainment on the company’s website, www.activisionblizzard.com.
Caution Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We may, in certain circumstances, use terms such as âpredictâ, âbelieveâ, âpotentialâ, âproposedâ, âcontinue “,” Estimate “,” anticipate “,” expect “,” foresee “,” intend “” may “,” could “,” could “,” will “,” should “or other words that reflect the uncertainty of future events or results to identify these forward-looking statements. These statements are subject to many important factors, risks and uncertainties which may cause actual events or results to differ materially from the Company’s current expectations. These and other risks are described in the periodic reports of the Company, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed or provided to the Securities and Exchange Commission and available at www.sec.gov. All forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.
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INDUSTRY KEYWORD: PROFESSIONAL SERVICES ENTERTAINMENT TECHNOLOGY HUMAN RESOURCES SOFTWARE ELECTRONIC GAMES
SOURCE: Activision Blizzard, Inc.
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PUB: 11/22/2021 10:30 PM / DISC: 11/22/2021 10:32 PM