Activision Blizzard shareholders defied the wishes of the company’s board of directors at the annual meeting of shareholders and voted to approve a proposal that would require greater transparency in payroll reporting and pending lawsuits.
The New York state pension fund, which owns more than a million shares of Activision Blizzard, originally proposed the practice, and 67% of the company’s shareholders voted in favor at its June 22 shareholders’ meeting. Activision Blizzard told shareholders that the board “unanimously” recommended no before making the usual statements for and against the move.
Since the majority of shareholders ignored this advice and voted in favor of the proposal, the company must now be informed:
- The total number and cumulative dollar amount paid by the Company for sexual assault, harassment, or discrimination based on race, religion, gender, national origin, age, disability, genetic information, military status, gender identity, or sexual orientation during the last three years. ;
- Reduce the average time to process complaints of sexual violence, harassment or discrimination, either through internal processes or through the courts;
- The total number of pending complaints of sexual assault, harassment, or discrimination that the company is seeking to resolve through internal processes or litigation;
- Summary of wages and hours worked required by the California Department of Fair Employment and Housing (the Department).
Shareholders also voted against the AFL-CIO’s proposal to include an employee representative on Activision Blizzard’s board. The proposal was based on the European model, which the union says will help restore the company’s credibility after multiple reports of harassment, discrimination and cover-ups that surfaced in 2021.
“A non-management representative can lead to better decision-making on the board by facilitating the exchange of information between the board and employees,” the proposal states. “Employees can be more productive and motivated if they have a say in corporate governance. They may also be more willing to invest time and energy in developing company-specific knowledge and expertise that contribute to higher productivity.
The Board also unanimously recommended rejecting the proposal, stating that the appointment of such a member was contrary to existing structures and governance and would not ultimately benefit the company or its shareholders. Activision Blizzard believes that its current practice of hiring a variety of board members will help ensure all needs are met.
The same board also concluded that Activision Blizzard had no issues with systemic harassment and discrimination after conducting its own investigation into the matter.
Source : PC Gamesn
