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Activision Blizzard Provides Update on Workplace Initiatives

Company Continues to Work with Regulators to Resolve and Address Workplace Issues

SANTA MONICA, Calif.–(BUSINESS WIRE)–Activision Blizzard, Inc. (Nasdaq: ATVI) said today that it continues to work with regulators on addressing and resolving workplace complaints it has received. The Company also provided an update on recent initiatives to achieve its goal of ensuring a workplace that is inspiring, equitable, and respectful to all.

Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “We are deeply committed to making Activision Blizzard one of the best, most inclusive places to work anywhere. There is absolutely no place anywhere in our Company for discrimination, harassment, or unequal treatment of any kind. While we continue to work in good faith with regulators to address and resolve past workplace issues, we also continue to move ahead with our own initiatives to ensure that we are the very best place to work. We remain committed to addressing all workplace issues in a forthright and prompt manner.”

Kotick also said that the Company continues to productively engage with regulators, including the U.S. Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), and the California Department of Fair Employment and Housing (DFEH) with the goal of improving its workplace policies and procedures and ensuring compliance.

The Company is actively engaged in continued discussions with the EEOC and has cooperated with the EEOC’s investigation concerning certain employment practices. It also confirmed that it is complying with a recent U.S. Securities and Exchange Commission (SEC) subpoena issued to the Company and several current and former employees and executives regarding disclosures on employment matters and related issues. The Company is confident in its prior disclosures and is cooperating with the SEC’s investigation.

Activision Blizzard has made a number of important improvements including significant changes to personnel, exiting a number of employees, and expanding compliance resources. In addition, the Company has refreshed its HR organization and, this week, will welcome a new Chief People Officer, Julie Hodges, who joins the Company from The Walt Disney Company. The Company has also expanded training, performance management, and anti-harassment resources.

The Company remains committed to ensuring it is the most welcoming, inclusive game company and connecting and engaging its 400 million players through epic entertainment created by the very best people in the industry.

About Activision Blizzard

Our mission, to connect and engage the world through epic entertainment has never been more important. Through communities rooted in our video game franchises we enable hundreds of millions of people to experience joy, thrill and achievement. We enable social connections through the lens of fun, and we foster purpose and a sense of accomplishment through healthy competition. Like sport, but with greater accessibility, our players can find purpose and meaning through competitive gaming. Video games, unlike any other social or entertainment media, have the ability to break down the barriers that can inhibit tolerance and understanding. Celebrating differences is at the core of our culture and ensures we can create games for players of diverse backgrounds in the 190 countries our games are played.

As a member of the Fortune 500 and as a component company of the S&P 500, we have an extraordinary track record of delivering superior shareholder returns for over 30 years.

Our enduring franchises are some of the world’s most popular, including Call of Duty®, Crash Bandicoot™, World of Warcraft®, Overwatch®, Hearthstone®, Diablo®, StarCraft®, Candy Crush™, Bubble Witch™, Pet Rescue™ and Farm Heroes™. Our sustained success has enabled the company to support corporate social responsibility initiatives that are directly tied to our franchises. As an example, our Call of Duty Endowment has helped find employment for over 85,000 veterans.

Learn more information about Activision Blizzard and how we connect and engage the world through epic entertainment on the company’s website, www.activisionblizzard.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. These and other risks are described in the Company’s periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Contacts

Investors and Analysts:

ir@activisionblizzard.com
or

Press:

pr@activisionblizzard.com

A Letter From CEO Bobby Kotick to All Employees – Responding to Recent Horrific Sexual Harassment Frat-boy Culture

SANTA MONICA, Calif.–(BUSINESS WIRE)–Activision Blizzard, Inc. (Nasdaq: ATVI) CEO Bobby Kotick today sent the following letter to all employees.

July 27, 2021

This has been a difficult and upsetting week.

I want to recognize and thank all those who have come forward in the past and in recent days. I so appreciate your courage. Every voice matters – and we will do a better job of listening now, and in the future.

Our initial responses to the issues we face together, and to your concerns, were, quite frankly, tone deaf.

It is imperative that we acknowledge all perspectives and experiences and respect the feelings of those who have been mistreated in any way. I am sorry that we did not provide the right empathy and understanding.

Many of you have told us that active outreach comes from caring so deeply for the Company. That so many people have reached out and shared thoughts, suggestions, and highlighted opportunities for improvement is a powerful reflection of how you care for our communities of colleagues and players – and for each other. Ensuring that we have a safe and welcoming work environment is my highest priority. The leadership team has heard you loud and clear.

We are taking swift action to be the compassionate, caring company you came to work for and to ensure a safe environment. There is no place anywhere at our Company for discrimination, harassment, or unequal treatment of any kind.

We will do everything possible to make sure that together, we improve and build the kind of inclusive workplace that is essential to foster creativity and inspiration.

I have asked the law firm WilmerHale to conduct a review of our policies and procedures to ensure that we have and maintain best practices to promote a respectful and inclusive workplace. This work will begin immediately. The WilmerHale team will be led by Stephanie Avakian, who is a member of the management team at WilmerHale and was most recently the Director of the United States Securities and Exchange Commission’s Division of Enforcement.

We encourage anyone with an experience you believe violates our policies or in any way made you uncomfortable in the workplace to use any of our many existing channels for reporting or to reach out to Stephanie. She and her team at WilmerHale will be available to speak with you on a confidential basis and can be reached at ATVI@wilmerhale.com or 202-247-2725. Your outreach will be kept confidential. Of course, NO retaliation will be tolerated.

We are committed to long-lasting change. Effective immediately, we will be taking the following actions:

  1. Employee Support. We will continue to investigate each and every claim and will not hesitate to take decisive action. To strengthen our capabilities in this area we are adding additional senior staff and other resources to both the Compliance team and the Employee Relations team.
  2. Listening Sessions. We know many of you have inspired ideas on how to improve our culture. We will be creating safe spaces, moderated by third parties, for you to speak out and share areas for improvement.
  3. Personnel Changes. We are immediately evaluating managers and leaders across the Company. Anyone found to have impeded the integrity of our processes for evaluating claims and imposing appropriate consequences will be terminated.
  4. Hiring Practices. Earlier this year I sent an email requiring all hiring managers to ensure they have diverse candidate slates for all open positions. We will be adding compliance resources to ensure that our hiring managers are in fact adhering to this directive.
  5. In-game Changes. We have heard the input from employee and player communities that some of our in-game content is inappropriate. We are removing that content.

Your well-being remains my priority and I will spare no company resource ensuring that our company has the most welcoming, comfortable, and safe culture possible.

You have my unwavering commitment that we will improve our company together, and we will be the most inspiring, inclusive entertainment company in the world.

Yours sincerely,

Bobby

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. These and other risks are described in the Company’s periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

Contacts

Investors and Analysts:

ir@activisionblizzard.com
or

Press:

pr@activisionblizzard.com