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State treasurers from California, Massachusetts, Illinois, Oregon, Delaware, and Nevada are calling on Activision Blizzard to take more serious measures in addressing ongoing high-profile investigations and lawsuits about the company’s troubling culture. According to Axios, said treasurers have asked to meet with the board members at Activision Blizzard by December 20, threatening action against the company if it does not comply.
A quick recap: Activision Blizzard have been accused of fostering a “frat boy” work culture where women across multiple studios were sexually harassed, assaulted, and psychologically traumatized. A more recent Wall Street Journal investigation also unearthed that company CEO Bobby Kotick knew about the sexual misconduct allegations over the years, often downplaying them or actively participating in the misconduct. While the state of California was already involved in these Activision Blizzard proceedings, and a number of entities are calling for Kotick’s resignation, now more government figures are joining the chorus.
State treasurers, for those who don’t know, are in charge of overseeing financial matters that concern both its state and citizens. Treasurers in states like Illinois, for example, serve as auditors of public accounts. But why would a state treasurer care about what a video game company is doing? Well, some states have active investments in Activision Blizzard that are affected by the company’s stock prices—which in turn affects pension funds that people use in retirement. But having investments in Activision Blizzard also means these government shareholders have some power in dictating what the company does next. And right now, the treasurers aren’t happy with Activision Blizzard’s leadership.
“We’re concerned that the current CEO and board directors don’t have the skillset, nor the conviction to institute these sweeping changes needed to transform their culture, to restore trust with employees and shareholders and their partners,” Illinois state treasurer Michael Frerichs told Axios.
Read the full article on Kotaku
