Previously, Dieter Waizenegger, executive director of CtW Investment, brought up the issue of Bobby Kotick’s salary. His issue brought to the shareholder meeting was circled around Bobby Kotick’s salary, and that he was the highest-paid CEO in the gaming’s industry. Now, Dieter Waizenegger has once again come forward and pointed out that EA executives are paid too much. Waizenegger says that the executives are paid dozens of money in bonuses and things, while a huge chunk of works is being laid off. Very recently, 900 workers were forced to leave, as the company said they needed restructuring.
His statements were particularly suggesting CFO Blake Jorgensen and CTO Kenneth Moss, who are being paid millions in bonuses. According to the report, published, Jorgensen had received a total of $16.5 million in bonuses and annual salary. Likewise, Moss had collected $7 million in bonuses and $5.5 in annual salaries.
“Electronic Arts has loaded up its top executives, including two executives with two special awards each, while its workers faced massive layoffs last year. This is an undue focus on the short term that cannot be good for the long-term success of EA,” CtW Investment Group executive director Dieter Waizenegger said in a statement.
“The notion that executives need to be incentivized with pay above-and-beyond the ordinary course program is a complete fallacy. EA’s executives have more than enough retention and performance incentive through their annual equity grant amounts, which the company already admits are set above the median of peers in its peer group.”
Its no surprise, how much these executives are paid. We recently heard about Bobby Kotick’s insane wages, and how he was one of the richest CEO’s around the world. CtW Investment group now emphasis stopping these high wages, because they will bite back in the long term.