Originally published at: https://www.oann.com/shareholder-objects-to-activision-ceo-koticks-renomination-to-coca-cola-board/?utm_source=rss&utm_medium=rss&utm_campaign=shareholder-objects-to-activision-ceo-koticks-renomination-to-coca-cola-board

December 9, 2021

(Reuters) – A Coca-Cola Co shareholder asked the beverage giant on Thursday to not renominate Activision Blizzard Inc’s Chief Executive Officer Bobby Kotick to its board, as the video game company deals with lawsuits on workplace harassment.

Allegations of sexual harassment and discrimination at Activision earlier this year led to more than 20 employees being fired and 20 more individuals facing other forms of disciplinary action.

SOC Investment Group, which is also an adviser to pension funds, said Kotick bears “primary responsibility for the longstanding ‘frat boy’ corporate culture” that has put Activision under pressure and brought in lawsuits.

“The time and attention that Kotick will need to devote to the cultural crisis at Activision ought to preclude his ability to effectively serve as a director of a major global brand,” SOC said.

Coca-Cola and Activision did not immediately respond to requests for comment.

SOC said it would also oppose Kotick and Coca-Cola’s lead independent director Maria Elena Lagomasino’s re-election, if Kotick was nominated.

(Reporting by Nivedita Balu and Tiyashi Datta in Bengaluru; Editing by Shounak Dasgupta)