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Activision Blizzard, Inc. (ATVI) stock is on a rise – Here’s why?

Activision Blizzard, Inc. (ATVI) experienced an increase of 0.07% in the aftermarket. However, the last trading session closed at $61.36 with a decrease of 0.21%.

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Letter from Chief Operating Officer – Newest Updates

ATVI reported on 16th December 2021 that the CEO has sent a letter to the company workers. CEO issued the following message to workers, outlining the company’s current data on worldwide gender and diversity representation in the United States, as well as its intentions to enhance these figures over the next few years. The CEO stated in the letter that there is indisputable complaint within the organization about the progress, and reactions to, worksite concerns.

Moreover, he said that employees who identify as women account for 24% of the total workforce worldwide. This is the same as the peer gaming firms, which make this information public. Furthermore, their business units, on the other hand, have a wide range of figures, with some exceeding the industry average and others falling short. In 2021, women accounted for 29 percent of ABK hiring and 26 percent of ABK attrition. In the United States, 36% of workers identify as belonging to an underrepresented ethnic group (UEG). This falls short of the information accessible from the counterparts.

Workplace Responsibility Committee – What is it?

On 23rd November 2021, ATVI announced the formation of a “Workplace Responsibility Committee”. The committee was comprised originally of two independent directors, to oversee the Company’s progress in implementing effective its specific legislation, processes, and responsibilities to enhance corporate culture and reduce the occurrence of prejudice and bullying. Dawn Ostroff, an independent director since 2020, serves as the Committee’s chairwoman. The Committee will be chaired by Reveta Bowers, who has been an independent director since 2018. In addition, the Company is seeking a new, diverse director to join the Board of Directors.

Management will be required to produce key performance indicators and/or other measures to track progress and guarantee accountability by the Committee. Bobby Kotick, the Chief Executive Officer, will deliver periodic progress reports to the Committee, which will brief the whole Board on a regular basis. Lastly, to aid in its work, the Committee has the authority to hire outside experts or advisers, including independent legal counsel.

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