Ubisoft CEO Yves Guillemot cuts pay for poor performance

An old man with thin silver hair is standing cheerfully against a dark background.

image: Christian Petersen (beautiful pictures)

The Ubisoft’s latest earnings report shared that longtime chief executive Yves Guillemot will voluntarily take a sizable pay cut totaling €310,607 (about $327,000 USD).

These details are first discovered by Axios in fine print throughout the June 14 report in the company’s glossary.

“This is the personal decision of Yves Guillemot, who has taken into account that the company has not met the financial goals it has publicly announced to the market,” a Ubisoft spokesperson said. Axios.

The amount from which Guillemot is exempt will constitute his “variable annual compensation” or a bonus percentage of his regular salary that fluctuates with operating conditions such as sales and quality of life. live at Ubisoft. Guillemot is entitled to 53.1% of this “fixed compensation” for fiscal year 2021 but will instead take home only €624,824 (or about $657,000 USD). Here’s hoping he can survive on this car.

While Ubisoft CEO’s decision echoes Satoru Iwatas strategy employed twice During his time as president of Nintendo, Guillemot was not as highly regarded. His senior position has placed him at the heart of Ubisoft sexual misconduct scandal, which came to light in 2020 at the height of the video game industry’s own #MeToo movement. The controversy centered on widespread abuses against female employees at all levels of the company and resulted in several resignations.

“Women now represent 25% of our total workforce, and represented one-third of total recruitment in the past 12 months,” Guillemot boasted in the report’s intro, without actually addressing why these workforce demographic shifts were necessary in the first place. “Furthermore, we have a strong representation of women at leadership levels with respectively 42% and 45% for the Executive Committee and the Board. We have ambitious plans to continue building a more diverse and inclusive organization.”

As noted by Axios, Ubisoft’s financial outlook also remains shaky despite the ongoing critical and commercial success of Assassin’s Creed Valhalla. The company’s operating profit fell 14%, sales fell 5%, and Ubisoft stock lost half its value in the financial year ended March 31.

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