Home Gaming EA shareholders have rejected an exorbitant executive bonus payment package for executives

EA shareholders have rejected an exorbitant executive bonus payment package for executives

2 min read
3
gm-b56f673e-e5b4-48da-a648-9ac8367fe867-eaannouncescloudgamingengineprojectatlas

Its been a few years since EA Games was nominated as the worst (and by imaginative extension “evilest”) company in America twice in a row. It’s a pretty heavy cross to bear, even if they haven’t been given such a prestigious honour in more recent years. One has to imagine that kind of response from consumers…well, it has to hit home on some level right? It feels like EA has been doing some work to help repair it’s public image in recent years and while I doubt they’ve actually been doing enough, little stories like how EA executives aren’t receiving a raise to their already stupidly overblown salaries…well that’s just nice to hear.

EAAnthem.2e16d0ba.fill-1200x630

The majority of EA’s shareholders have voted against a new compensation package for EA executives, no doubt saying, “What the hell are you greedy turds thinking? The world is on fire, we have a smaller than usual release schedule and you want early Christmas bonuses?”. Which is certainly a reasonable outburst. The whole payment plan was part of the “Say on Pay” proposal which, had it been accepted by shareholders, would have given EA complete control over how much extra cash it throws at its executives beyond their usual salaries. I mean, greed isn’t actually good no matter what Michael Douglas tells you.

WCCFea

Fortunately, the recent shareholder meeting saw a vote on the “Say on Pay” proposal end with a 68% majority saying, “Are you idiots insane?”. Dieter Waizenegger, executive director of CtW Investment Group, one of the shareholders involved with EA stated:

Shareholders issued a resounding rebuke of Electronic Arts’ deeply flawed executive pay practices that does not incentivize executives to create long-term value. This vote is a clarion call for the board to stop piling awards on top of awards for top executives and make sure that the company develops a pay philosophy that is focused on talent development and retention throughout all levels of the company.

Hell yeah, Dieter. You tell them.

Last Updated: August 12, 2020

Check Also

Two new ships and custom matches arrive in Star Wars: Squadrons in December

Now you can recreate those iconic Death Star battles in a way that would make JJ Abrams je…