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RSS FeedsEA CEO And Other Execs Gave Up Their Cash Bonuses
(GameSpot Wii News)

 
 

24 june 2019 12:16:37

 
EA CEO And Other Execs Gave Up Their Cash Bonuses
(GameSpot Wii News)
 


Electronic Arts CEO Andrew Wilson and a series of other high-ranking executives at the publisher declined their cash bonuses for the latest financial year which ended March 31. This was confirmed in a Securities & Exchange Commission filing dated June 21 and reported on by GameDaily.`Our CEO and his staff requested that they receive no performance cash bonus award for fiscal 2019,` reads a line from the filing.The filing mentioned that Wilson and other executives declined their cash bonuses due to EA`s poor financial results in Fiscal Year 2019, and `in order to maintain alignment with our pay-for-performance executive compensation philosophy.``While we are disappointed with our fiscal 2019 results, we understand the challenges we face, and we will continue to focus on how we can apply the strengths of our Company to capitalize on our opportunities,` the statement explains.EA made $4.95 billion for fiscal 2019, which was down from $5.15 billion during the previous fiscal year. The downturn in revenue might sound surprising given EA landed a huge hit with Apex Legends during the year. However, the title was only released in February 2019, which was just ahead of the end of the fiscal year in March. EA also had a few high-profile misses during the year, including Battlefield V and Anthem, both of which underperformed.The other EA executives who declined their cash bonuses for the year included CFO Blake Jorgensen, CTO Kenneth Moss, chief marketing officer Chris Bruzzo, and chief studios officer Laura Miele. Patrick Soderlund, who quit EA in August 2018, also reportedly gave up his bonus. EA reportedly offered Soderlund $20 million in equity bonuses to stay at the company, but even so, he left to establish Embark Studios in Sweden. At the time, it was believed that Soderlund took the $20 million with him, but GameDaily reports that he did not; the funds are instead reportedly going into a pool to help secure new hires, among other purposes.According to GameDaily, t ...


 
13 viewsCategory: Entertainment > Games > Nintendo Wii
 
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