Microsoft announced the closing of its $68.7 billion acquisition of Activision Blizzard. The takeover was the largest in the history of the gaming industry. After that, the head of ActiBlizzard, Bobby Kotick, said in an address to the employees of the company that he would remain as CEO until the end of 2023. According to the executive, Xbox head Phil Spencer personally asked him to do so.

Kotick will report to Spencer. He will provide the necessary support to integrate Activision Blizzard’s structure into Microsoft during the transition period.

Kotick will have to step down as head of Activision Blizzard as of early 2024. Who will take charge of ActiBlizz after that is not yet known.

Kotick became CEO of Activision in 1991 after buying a stake in the company. In 2008, Kotick orchestrated the merger of Activision and Vivendi Games, which led to the creation of ActiBlizzard. Under Kotick’s leadership, the company’s market capitalization increased from less than $10 million to more than $70 billion.