Replaces Dennis Durkin Who Is Retiring from
the Company
Activision Blizzard On Track to Exceed Prior
Outlook for the First Quarter
Activision Blizzard (Nasdaq: ATVI) today announced the promotion
of Armin Zerza to the company’s Chief Financial Officer. A deeply
experienced global CFO and operations executive, Zerza currently
serves as Chief Commercial Officer of Activision Blizzard and Chief
Operating Officer of Blizzard Entertainment. He will assume his new
role in the Company’s second fiscal quarter, following the
retirement of current CFO Dennis Durkin.
Thomas Tippl, Vice Chairman of Activision Blizzard, noted: “I’ve
worked with Armin for more than 20 years, going back to our days at
The Procter & Gamble Company. I’m supremely confident in his
expertise, focus, and ability to drive shareholder value and
disciplined financial performance. When I recruited Armin to become
CFO of Blizzard six years ago, I expected him to one day become the
CFO of the entire company. I look forward to partnering with him as
he builds on the exceptional work Dennis and our team have done to
build such a strong global finance function.”
Bobby Kotick, CEO of Activision Blizzard, commented, “Armin is a
leader of great accomplishment and depth who has played a central
role in our company’s continued growth, record financial results,
and the momentum we now have with all of our key franchises. His
extensive knowledge of the financial and operational aspects of our
company – balanced with a great appreciation for the need to ensure
inspiration and creativity – makes him uniquely suited to serve as
our next Chief Financial Officer.”
Kotick continued, “Two years ago, in a very difficult situation,
Dennis stepped in again as our CFO, and his efforts and focus
helped the company return to growth and established the momentum we
now have as we expand our audiences, engagement, and player
investment. In the decade that we have worked together, Dennis’s
leadership shaped our culture, balancing the creative and financial
objectives that are unique to our industry, and he has enabled a
seamless transition for Armin by building a truly extraordinary
financial leadership team. I am incredibly grateful for his
partnership, friendship and his unwavering integrity.”
Robert Corti, Chairman of Activision Blizzard’s Audit Committee
added, “Dennis is a consummate professional. He has built a superb
financial team and has enabled an easy transition with ideal timing
for Armin to assume responsibilities as our Chief Financial
Officer. Having worked with Armin for six years I am looking
forward to his drive, determination, and boundless energy being
applied to his new role.”
“Bobby is a friend and a great leader and it has been a
privilege to work with him and all my colleagues at Activision
Blizzard,” said Durkin. “I am proud of the durable business we have
built and the value we have created for our various stakeholders
during my tenure. Our business has never been stronger and I’m
pleased to share that our strong performance is continuing and we
are on track to exceed our prior outlook for the first quarter. I
want to thank Bobby, Thomas, and our incredibly talented teams, as
well as Brian Kelly and our Board of Directors, for their support
over the years. I couldn’t be more excited for the continued growth
and success the company is poised to achieve.”
Zerza joined the company in 2015 as CFO of Blizzard
Entertainment. He has assumed expanded roles and increased
responsibility at both Activision Blizzard and Blizzard
Entertainment. As Blizzard’s Chief Operating and Financial Officer,
he built on his success strengthening that unit’s financial and
operational discipline, and as Chief Commercial Officer he has
overseen all the commercial and operational functions for
Activision Blizzard. Zerza joined the company after more than 20
years with P&G where most recently he served as CFO for
P&G’s multi-billion-dollar Latin America division and its
European Baby Care business as well as Director of Mergers &
Acquisitions, among other roles. He holds a master’s degree from
Vienna University of Economics and Commerce.
Activision Blizzard intends to release its first quarter 2021
results after the close of the market on Tuesday, May 4, 2021.
About Activision Blizzard
Our mission, to connect and engage the world through epic
entertainment has never been more important. Through communities
rooted in our video game franchises we enable hundreds of millions
of people to experience joy, thrill and achievement. We enable
social connections through the lens of fun, and we foster purpose
and a sense of accomplishment through healthy competition. Like
sport, but with greater accessibility, our players can find purpose
and meaning through competitive gaming. Video games, unlike any
other social or entertainment media, have the ability to break down
the barriers that can inhibit tolerance and understanding.
Celebrating differences is at the core of our culture and ensures
we can create games for players of diverse backgrounds in the 190
countries our games are played.
As a member of the Fortune 500 and as a component company of the
S&P 500, we have an extraordinary track record of delivering
superior shareholder returns for over 30 years.
Our enduring franchises are some of the world’s most popular,
including Call of Duty®, Crash Bandicoot™, World of Warcraft®,
Overwatch®, Hearthstone®, Diablo®, StarCraft®, Candy Crush™, Bubble
Witch™, Pet Rescue™ and Farm Heroes™. Our sustained success has
enabled the company to support corporate social responsibility
initiatives that are directly tied to our franchises. As an
example, our Call of Duty Endowment has helped find employment for
over 80,000 veterans.
Learn more information about Activision Blizzard and how we
connect and engage the world through epic entertainment on the
company's website, www.activisionblizzard.com.
Cautionary Note Regarding Forward-looking Statements: The
statements contained in this press release that are not historical
facts are forward-looking statements. Forward-looking statements
are subject to business and economic risks, reflect management's
current expectations, estimates, and projections about the
company’s business, and are inherently uncertain and difficult to
predict. The company cautions that a number of important factors,
many of which are beyond the company’s control, could cause
Activision Blizzard's actual future results and other future
circumstances to differ materially from those expressed in any
forward-looking statements. Such factors include, but are not
limited to, factors identified in the “Risk Factors” sections
included in Part I, Item 1A of the company’s Annual Report on Form
10-K for the year ended December 31, 2020. Any forward-looking
statements in this press release are based on information available
to the company as of the date of this release, and the company
assumes no obligation to update any such forward-looking
statements. Although these forward-looking statements are believed
to be true when made, they may ultimately prove to be incorrect.
These statements are not guarantees of the company’s future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control and may cause actual
results to differ materially from current expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20210329005737/en/
Kelvin Liu Director, Corporate Communications Activision
Blizzard Kelvin.liu@activision.com 310-255-2213
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