June 29, 2022

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EA CEO cuts wage in half – to $20 million

Digital Arts CEO Andrew Wilson has chopped his 2022 wage in half — from $39.2 million to $19.9 million — after the corporate promised modifications following adverse shareholder suggestions.

Again in June 2021, EA promised to ship “substantial modifications” after shareholders shared concern over pay for CEO Andrew Wilson and different executives on the firm. Now, one 12 months later, new monetary filings present that the the EA CEO’s wage has been minimize.

Amid a interval of monetary turmoil, following the disastrous launch of a few of EA’s greatest franchises that included Battlefield 2042, it’s unsurprising that management would settle for a pay discount.

However even this huge minimize nonetheless left Wilson with fairly a hefty wage remaining.

EA boss will get wage minimize in half

EA SPORTS

A lot of EA’s earnings got here from the success of FIFA 22.

EA’s 2022 SEC submitting revealed that the gaming large’s huge beneficial properties from FIFA 22 and Apex Legends have been offset by the losses from Battlefield 2042. The poor monetary efficiency meant that some modifications can be within the works and it seems this wage minimize is the primary salvo.

The information of wage minimize comes courtesy of Eurogamer, who reported that the choice was made following the uncommon “no” vote for raises to firm executives from shareholders. Amid guarantees to make modifications, Wilson’s wage was shrunk to $19.9 million for the monetary 12 months ending March 31.

The EA CEO’s wage discount represents a 50% pay lower. Nonetheless, many are declaring that Andrew Wilson was ranked because the sixteenth most overpaid CEO by As You Sow for his earlier wage of $40 million. As You Sow subsequently rated Wilson because the sixteenth most overpaid govt based mostly on his wage in comparison with revenues generated.

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Observers additionally level out that, regardless of the pay minimize, Wilson’s wage far outstrips these of EA’s rank-and-file staff. In accordance with EA’s monetary report, Wilson’s new wage continues to be 172 occasions the median wage of EA workers, which sits at $115,569.