Activision Gives $15 Million Sweetener to New CFO Dennis Durkin

[khazmodan]

In this article( https://www.bloomberg.com/news/artic...m-job-shopping ) the new chief financial gets a lot of money to take the job.

Activision Blizzard Inc.’s Dennis Durkin will receive awards worth $15 million as part of his appointment to chief financial officer.

Durkin will get $11.3 million of restricted stock tied to operating income and earnings-per-share targets, and a $3.75 million sign-on bonus, the Santa Monica, California-based company said Friday in a regulatory filing. That’s on top of his $900,000 salary and a $1.35 million target bonus.

This is Durkin’s second stint as CFO. He served in the post for five years until May 2017, when he became chief corporate officer. He returned to the role this week after Spencer Neumann left to take the same job at Netflix Inc. Activision fired Neumann, whose contract barred him from negotiating with other potential employers.

As Steve jobs says in this 2 minute video,



the customer is getting spit on, in the rush to cash grab there way to higher quarterly reports.

[Kaleredar]

I'm sure that 15 million dollars would have been the difference between having balanced enhance shamans or not.

We were so close.

[khazmodan]

I'm sure that 15 million dollars would have been the difference between having balanced enhance shamans or not.

We were so close.

how much does a programmer get paid? im just wondering how many man hours it would take to do that...

[Kuja]

Holy fuck. Time for a career change

[Firatha]

In this article( https://www.bloomberg.com/technology ) the new chief financial gets a lot of money to take the job.

Activision Blizzard Inc.’s Dennis Durkin will receive awards worth $15 million as part of his appointment to chief financial officer.

Durkin will get $11.3 million of restricted stock tied to operating income and earnings-per-share targets, and a $3.75 million sign-on bonus, the Santa Monica, California-based company said Friday in a regulatory filing. That’s on top of his $900,000 salary and a $1.35 million target bonus.

This is Durkin’s second stint as CFO. He served in the post for five years until May 2017, when he became chief corporate officer. He returned to the role this week after Spencer Neumann left to take the same job at Netflix Inc. Activision fired Neumann, whose contract barred him from negotiating with other potential employers.

As Steve jobs says in this 2 minute video,

snip

the customer is getting spit on, in the rush to cash grab there way to higher quarterly reports.

You clearly have no idea how high end positions get paied if you think this payment is news worthey maybe if it was $15mill in real useable money up front it would be news worthy.

Holy fuck. Time for a career change

I know righit one years salary and his signing bonus and I could be set for most if not all of my life.

[Razzako]

how much does a programmer get paid? im just wondering how many man hours it would take to do that...

https://www.glassdoor.com/Salary/Bli..._D_KO23,40.htm

Here you go.

[khazmodan]

https://www.glassdoor.com/Salary/Bli..._D_KO23,40.htm

Here you go.

So, for the price of a glorified accountant they could have bought over 300,000 hours of programmer made content.

[leigonlord]

he didnt get 15 million dollars. he got 11 million dollars in stock. big difference. one of them costs the company money.

[khazmodan]

he didnt get 15 million dollars. he got 11 million dollars in stock. big difference. one of them costs the company money.

So, if the company would have sold that stock instead, they would not have made any money on it?

[Deleted]

I like this steve jobs video. So much on point of what is happening with activision,ea, etc

[exochaft]

I like this steve jobs video. So much on point of what is happening with activision,ea, etc

Yes and no, as Jobs was specifically referring to monopolies or near-monopolistic companies, which Activision, EA, etc are not. The big difference is that unlike monopolies, these companies can still lose to competition and lose business/sales, so there still is quite a bit of motivation to making a product that sells and/or is desirable. This is why it's actually impactful to the companies when they do something stupid or make a terrible product, as it actually costs them something... while monopolies don't lose a thing, because they are the sole supplier and customers can't go anywhere else for said products. That being said, there could be some disconnect between the on-the-ground developers and executives up top, but that could just be communication errors or a number of other issues not relating to finances.

With respect to the "new" CFO, as someone else said, this isn't really news-worthy. Such positions are high risk, time-intensive positions, and not everyone can do the job or is qualified for the job on top of dealing with all the stress associated with said job (hence why it pays quite a bit). If any random person could do the job or would even want to do the job, the pay would be massively lower. The idea that a company would willingly and massively overpay someone if they could feasibly avoid doing so is rather silly.

[Nzx]

So, for the price of a glorified accountant they could have bought over 300,000 hours of programmer made content.

So, if the company would have sold that stock instead, they would not have made any money on it?

Hahaha these fucking forums man. How old are you? Have you ever had a job, let alone managed anyone? Do you understand how stock works? Do you really believe that Blizzard would've been better off taking $11m of equity and selling it to shareholders in lieu of having no CFO? Do you understand that you can't just throw money at "programmers" and expect them to change anything? Again, do you really believe that $11m can just be magically converted into 300,000 man hours? 300,000 hours is 7,500 working weeks, or 144 years worth of work. So Blizzard hire 144 new programmers, they do 300,000 worth of work between them over a year, and then what? The day is saved, fire all 144 programmers, and now WoW is magically the game you want it to be again?

Clueless children everywhere on these forums, it's hilarious.

[ipaq]

In this article( https://www.bloomberg.com/news/artic...m-job-shopping ) the new chief financial gets a lot of money to take the job.

Activision Blizzard Inc.’s Dennis Durkin will receive awards worth $15 million as part of his appointment to chief financial officer.

Durkin will get $11.3 million of restricted stock tied to operating income and earnings-per-share targets, and a $3.75 million sign-on bonus, the Santa Monica, California-based company said Friday in a regulatory filing. That’s on top of his $900,000 salary and a $1.35 million target bonus.

This is Durkin’s second stint as CFO. He served in the post for five years until May 2017, when he became chief corporate officer. He returned to the role this week after Spencer Neumann left to take the same job at Netflix Inc. Activision fired Neumann, whose contract barred him from negotiating with other potential employers.

As Steve jobs says in this 2 minute video,



the customer is getting spit on, in the rush to cash grab there way to higher quarterly reports.

You understanding is so limited, it is saddening.

$3.75m in sign in bonus before tax;
$900k in salary before tax;
$1.35m in bonus before tax for having reach some goals set by the corp investors/board/etc;
(when was that bonus? this year? future?)

-and-

$11.3m (current value) in some stock (options?) for which we don't have any details (A? B? C? limited divestment, on a schedule?)

Sometime when corp merge or crash he may end up with stocks worth nothing, and even cost him money in tax;

[korijenkins]

Corporations are just a revolving door. You can fail miserably in one place, and go somewhere else right after and get paid again.

[Gaidax]

Signature bonus is not unheard of for anyone worth their salt.

You can be salty all you like, but being CFO of a big corporation is no small achievement - you don't get this by sitting on your ass all day long.

[SirBeef]

In this article( https://www.bloomberg.com/news/artic...m-job-shopping ) the new chief financial gets a lot of money to take the job.

Activision Blizzard Inc.’s Dennis Durkin will receive awards worth $15 million as part of his appointment to chief financial officer.

Durkin will get $11.3 million of restricted stock tied to operating income and earnings-per-share targets, and a $3.75 million sign-on bonus, the Santa Monica, California-based company said Friday in a regulatory filing. That’s on top of his $900,000 salary and a $1.35 million target bonus.

This is Durkin’s second stint as CFO. He served in the post for five years until May 2017, when he became chief corporate officer. He returned to the role this week after Spencer Neumann left to take the same job at Netflix Inc. Activision fired Neumann, whose contract barred him from negotiating with other potential employers.

As Steve jobs says in this 2 minute video,



the customer is getting spit on, in the rush to cash grab there way to higher quarterly reports.

But Apple does the same thing and people eat it up.

[Acidbaron]

If you want to complain about corporate interests you really shouldn't use Jobs as an example. That man was a modern day slave driver to his own work force, who rewarded being brutal and even when he knew he was going to die from cancer he still didn't grow a conscious.

Apple was no 'mom and pop' store. They also use child labour and exploit people in third world countries.

[Lochton]

how much does a programmer get paid? im just wondering how many man hours it would take to do that...

Not the same job category.

[vipers]

What's 15M$ to Blizz, just a few days of MTX. Gotta help the CFO get comfortable! Imagine the REAL devs that contributed to CoD and whatever other Activision games hard hours, and probably never made that money in their entire lives.

If so much money then why Blizzard Paying Staff to Leave in order to Cut Costs
https://www.reddit.com/r/Diablo/comm..._order_to_cut/