After company's poor performance, Ubisoft's CEO cuts $300,000 in compensation

After company's poor performance, Ubisoft's CEO cuts $300,000 in compensation ...

According to Ubisoft''s latest earnings figures, long-time CEO Yves Guillemot would voluntarily pay a substantial cut of 310,607 people (around $327,000 USD).

Axios'' attention was first uncovered in fine print throughout the June 14 report, along with paragraphs of corporate jargon.

Yves Guillemot made a personal decision considering that the firm had not achieved the financial targets that it had publicly communicated to the markets, according to a Ubisoft spokesperson.

The amount Guillemot has been waived for his annual variable compensation, or a bonus percentage of his regular salary that fluctuates according to performance conditions such as sales and quality of life at Ubisoft. Guillemot was entitled to 53.1% of this fixed compensation for the fiscal year 2021 but will instead rent him only 624,824 (or roughly $657,000 USD). Heres hoping he can survive on that depreciation.

While the Ubisoft executive decision reflects a strategy used twice during his time as Nintendos chairman, Guillemot isnt held in the same high esteem. It was immediately exposed in 2020 at the height of the #MeToo movement, which focused on widespread abuse against female employees.

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Women now represent 25% of our total workforce and represented one-third of total recruitment in the last 12 months, according to Guillemot, without revealing why these workforce demographic shifts were needed in the first place. Furthermore, we have a strong representation of women at leadership levels, ranging from 42 to 45 percent for the Executive Committee and the Board. We are currently considering establishing a more diverse and inclusive organization.

Assassins Creed Valhalla''s continued critical and commercial success has resulted in Ubisoft''s financial outlook being shaky despite the company''s operating profit generating 14%, sales generating 5%, and Ubisoft''s stock decreased half its value during the fiscal year ended on March 31.