Yves Guillemot, CEO of Ubisoft, is taking the game company’s lowered financial outlook personally, making the “personal decision” to remove €310,607, or about $327,000 USD, from his salary that he would have otherwise received as part of his annual variable compensation – money that is awarded to him due to company performance.
The self-imposed pay slashing is because Ubisoft “had not reached the financial targets that it had publicly communicated to the markets,” a spokesperson is quoted as saying. The company has seen a 14% drop in operating profit, a 5% drop in sales, and a stock price slashed in half over the past year.
In the same earnings report, Guillemot proudly trumpets the company’s “best-in-class governance,” lauds increases in hiring women in both development and leadership sectors, and promises “ambitious plans to continue building a more diverse and inclusive organization,” effectively dancing around the studio’s problems with mismanagement, sexual harassment, and racism.
