Activision CEO Kotick expected to leave company once Microsoft deal closes: WSJ
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Activision (NASDAQ:ATVI) CEO Bobby Kotick is expected to step down from the company once Microsoft (NASDAQ:MSFT) officially acquires the company, The Wall Street Journal reported.
When the deal was first announced earlier on Tuesday, Microsoft said that Kotick "will continue to serve as CEO of Activision Blizzard," and once the deal closes, he and the business would to Microsoft's gaming chief, Phil Spencer.

Both companies said they expect the deal to close in 2023, implying that regulatory approval could be extensive for a deal of this magnitude.
During the conference call discussing the deal, Microsoft Chief Executive Satya Nadella said that building an inclusive culture is his "number one priority" as CEO of Microsoft (MSFT), adding that he wants to create an environment that drives culture success and business success as well, something that Activision has struggled with due to multiple allegations of sexual misconduct at the video game giant, of which Kotick was allegedly aware of.
Activision (ATVI) shares are up nearly 25% to $81.64, a significant distance from the $95 per share cash offer that Microsoft is willing to pay for the "Call of Duty" maker.
According to CNBC, the deal has a breakup fee of about $3 billion.
Microsoft (MSFT) was reiterated one of the top large-cap tech stocks at Wedbush on Tuesday, despite the actions taken by the Federal Reserve.