Activision's Chief Corporate Exec Resigns - Returns

Posted by Staff
Activision's Chief Corporate Exec Resigns - Returns
Activision Blizzard's Chief Corporate Officer, Thomas Tippl, has resigned only to return as the company’s Chief Operating Officer. He will also continue as Chief Financial Officer "until his replacement is hired".

Acti/Blizz has even brought in what it called 'the Tippl Amendment', "effective as of March 23, 2010" to its corporate papers.

"Mr. Tippl’s annual base salary will initially be $850,000 and will be increased annually in an amount at least equal to the average percentage increase approved by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) for members of the executive leadership team, excluding any increases guaranteed by contract or due to an executive’s significant promotion or modification in duties", says the release to the US stock market.

"Mr Tippl will be eligible to receive an annual bonus with a target amount of 120% of his base salary, the actual amount of which will be determined by the Compensation Committee in its sole discretion based on his overall performance and the Company’s performance", continues the release.

Mr Tippl also gets "an option to purchase 525,000 shares of the Company’s common stock and 350,000 restricted share units representing the right to receive shares of the Company’s common stock."

That'll buy a few tipples for Mr Tippl.


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