Gaming giant Electronic Arts has been put on blast by one of its investors for the lucrative pay packages that the publisher gives to some of its highest-ranking executives.
Dieter Waizenegger, the director of The CtW Investment Group, said in a notice that EA has “gone too far in terms of executive pay,” and is calling on shareholders to vote against the “Say-On-Pay” proposal for EA’s upcoming shareholder meeting on August 6. Waizenegger has also called out Activision Blizzard CEO Bobby Kotick for his huge pay and sought changes within the Call of Duty company.
Specifically, Waizenegger says EA CFO Blake Jorgensen and CTO Kenneth Moss are paid too much, and it’s an especially poor practice, as EA is laying people off, Waizenegger said. EA is said to have laid off 4 percent of its total workforce in 2019.
“While shareholders have benefited from appreciation in the company’s stock price over the long term, we believe that that does not permit the company to indiscriminately pay its executives,” Waizenegger said.