Ubisoft CEO Gives Up Part of Salary Due to Company's Situation
The head of Ubisoft Yves Guillemot gave up part of his salary. The reason for the decision are problems in the company.
- Ubisoft's CEO has decided to cut his salary.
- From next year Yves Guillemot will earn 1/3 less.
- This is due to the fact that the company has not reached its financial targets.
Ubisoft is one of the largest video game publishers in the world. However, even a giant liek this is not free from problems. The French company has had quite a lot on its plate lately.
A sign that not everything goes according to plan is the recent decision of the head of Ubisoft, Yves Guillemot. The CEO decided to cut his salary by 1/3.
Cuts at the highest level
Yves Guillemot will earn 310 thousand euros less in 2023 than in the current year. This means a reduction in salary by 1/3. In total, Guillemot will receive for the year less than 625 thousand euros.
This sum does not include additional stock bonuses, but they will still only end up in the hands of Ubisoft's CEO after the end of the year.
This information was shared by the company in the latest financial report. There were no reasons given for the decision to reduce the salary, but shortly afterwards a company spokesman explained the issue in an interview with Axios.
"This is a personal decision Yves Guillemot made because the company failed to meet the financial targets that were previously publicly outlined."
So it looks like the company overestimated its capabilities, as noted even by the Ubisoft CEO himself.
A whole bunch of crises
The publisher's condition is certainly also affected by internal problems. Ubisoft is a giant, of course, but it is struggling with many crises.
Recently we have heard a lot about the problem related to the significant outflow of employees. Hundreds of developers said goodbye to the company within the last 6 months. Among them we can find both lower-level employees and industry veterans.
Ubisoft has even decided to raise salaries for the most deserving employees in fear of their departure.
In the background there is still a lot of noise about poor working conditions at the company. This led to a full-fledged protest of developers and a petition to Yves Guillemot.
At the same time the publisher made ill-considered decisions, such as investment in the NFT sector. Most likely, it did not pay off, as it only caused an image crisis, and almost no one was interested in the tokens themselves.
All these problems, in turn, certainly affect the finances of the company. After all, to deal with them, a lot of money had to be put on the table. Of course, this is helped by the excellent condition of Ubisoft's biggest brands, but it's clearly not enough to achieve its goals.
It remains to be hoped that over time the publisher will cope with this plethora of problems and begin to make fewer wrong decisions. This will have a positive impact not only on Yves Guillemot's paycheck, but also on employees and consumers.
