Ubisoft CEO To Cut His Pay By $300K After Underperformance

Company reaffirmed its desire to create a more diverse and inclusive environment

Yves Guillemot, CEO of Ubisoft, announced a voluntary cut in its pay during the last meeting the company held with its shareholders. As a result of a lower-than-expected commercial performance, the executive decided to give up $327,000 to which you would be entitled during the 2021 tax year.

This is a personal decision by Yves Guillemot, which he made considering that the company did not meet the financial targets it had publicly communicated to the markets.”, a spokesperson for the company told the website Axios. The vehicle was responsible for discovering the cut in payments, which was explained in documents publicly released on June 14.

Despite giving up considerable value, Guillemot will still receive most of the payments due to him. The US$ 327 thousand were part of an annual bonus conditioned to the company’s financial performance, which will not affect the CEO’s fixed income, which is expected to be $657,000 during the period which comprises the fiscal year 2021, which ended in March of this year.

Guillemot Released Equal Opportunity Data at Ubisoft

Despite not having the same negative public image as Bobby Kotick of Activision Blizzard, Guillemot has also had to deal with a series of allegations of harassment and unequal treatment at his company in recent months.. The most recent tax report does not directly address these issues, but states that the developer now has 25% of its workforce made up of women — which accounted for a third of the hirings in the last 12 months.

The company also stated that 42% of its Executive Committee and 45% of its shareholders are women. “We have plans to continue to build a more diverse and inclusive organization,” Ubisoft stated in its report. According to the document, the company closed the fiscal year with 14% drops in your profit margin and 5% in your salesresulting in a 50% drop in the value of its shares on the last year.

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Ubisoft CEO says the company “has everything to remain independent”

Ubisoft CEO says the company “has everything to remain independent”
Yves Guillemot stated that the company is not for sale

Guillemot’s decision to cut his payments at a time of crisis is not unprecedented and brings to memory the actions of Satoru Iwata, former Nintendo CEOwho twice cut his salary amid the underperformance of the Wii U. Last week, EA CEO Andrew Wilson also revealed that he will be taking a $20 million cut in his annual payments.a decision that was the result of pressure from the company’s shareholders.


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Source: kotaku

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