Electronic CEO Takes a $20 Million Cut in His Annual Pay

Shareholders demanded that company executives significantly reduce their bonuses

CEO of Electronic Arts, one of the biggest companies in the world of games, Andrew Wilson received approximately $19.9 million for his work in the fiscal year ended March 31.. Although substantial, the value is $20 million less than the pay the executive received in the previous year and still leaves room for future decreases.

According to Axios, the reduction in the amounts paid to the executive is a reflection of a decision by the company’s shareholders. In June 2021, they decided by vote that the highest positions in the company were receiving overpaymentswhen the company’s commercial performance was taken into account.

Wilson and other Electronic Arts executives are often rewarded with a mix of salary, cash bonuses and stock options, many of them tied to the metrics their management achieves. In practice, Wilson’s annual salary is $1.3 million (already with a 3.2% annual increase applied)which is considered adequate by the same shareholders who voted to reduce their bonuses.

EA claims it has achieved its internal goals

According to Axios, despite the issue involving the payment of its executives, Electronic Arts is pleased with its performance in recent years. Internal documents show that the company met objectives such as releasing games within the scheduled fiscal periods, keep your services online 99% of the time and increase the diversity of your work environment.

The company also claims that managed to improve its employee satisfaction metrics and expected performance in the games-as-a-service segment. On the other hand, it was “a little under the mark” when it comes to monetizing mobile games via microtransactions and viewing its competitive games.

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Electronic Arts is looking for merger or sale opportunities, says report

Electronic Arts is looking for merger or sale opportunities, says report
The company would have negotiated with Disney, Apple, Amazon and NBCUniversal to make its plans viable.

To top it off, Electronic Arts stated that the average annual salary of its employees is $115,569, lower than the US$ 123,935 reported in previous years. The decrease in value can be explained mainly by the decrease in bonuses given to its executivesbut there is no more specific data about each area of ​​the company to analyze the disparity between what they and developers receive at the moment.


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Source: axios

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