After missing financial targets, Ubisoft CEO Yves Guillemot cuts 30 percent of pay

After missing financial targets, Ubisoft CEO Yves Guillemot cuts 30 percent of pay ...

Yves Guillemot, Ubisoft''s CEO, is set to take home a reduced pay packet in 2022 because to Ubisoft''s recent financial objectives. Guillemot is considering a 30 percent pay reduction, increasing his annual salary to less than one million people.

The Ubisoft Universal Registration Document, which allows EU companies to provide an interim update on their financial results, is expected to receive a 30 percent pay reduction this year, losing 310,607 ($326,000 USD) of his salary. This information is fine print and is quietly described as a "decision of the chairman and CEO."

Guillemot will continue to earn 624,824 ($657,000 USD) this year, but it is far less than the 1.03 million ($1.08 million) hed earned the previous year.

"This is a personal decision by Yves Guillemot," an Ubisoft rep told Axios, "that he accepted" considering that the firm had not reached the financial targets that it had publicly communicated to the markets.

This pay decrease is attributed to Ubisoft''s lack of financial targets for the year, with operating profit falling by 14 percent and net bookings decreasing by 5 percent. Ubisoft''s stock has also decreased about half its value from this time in 2020, the year where Ubisoft was hit by several sexual misconduct allegations.

Although Ubisoft is still haunted by those misgivings, it''s a lack of hit games that is dragging down the publisher''s finances. Skull & Bones is taking far longer to develop than originally planned (and still lacks a solid release date), and Ghost Recon Breakpoint was a flop.

Ubisoft exceeded its hiring targets for greater gender equality. Guillemot established a job position in 2023 that was intended for 24 percent women. It now has 25.45 percent women in its workforce nearly a year early.

"We have grown to 25 percent of our total workforce, and this year saw one third of total recruiting," Guillemot said. "We have a strong representation of women at leadership levels, with respectively 42 percent and 45 percent for the Executive Committee and the Board. While attrition has been a challenge over the past 12 months, the actions we have taken to reduce employee retention are starting to pay off.

Ubisoft is also on track to meet its carbon targets announced last year, according to a recent report indicating a 14 percent decline in carbon emissions last year.