The Great SEC Gaslight, plus Bobby Kotick's and Skydance

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Skydance CEO David Ellison is scared to do the job himself: steals Ynon Kreiz from Mattel and names him co-CEO; David Ellison will continue as Chair.

And then, Skydance Adds Bobby Kotick and Laurene Powell Jobs to Board, Taps Tony Blair as Adviser

Before I get to Bobby, Laurene Powell Jobs is the widow of Apple’s Steve Jobs and Tony Blair is the former UK prime minister: both seem to represent channels to power and a slightly liberal-bent, possibly to counterattack the perception that this is a MAGA-friendly company?

Now Bobby: After presiding over a toxic workplace scandal at Activision Blizzard, Bobby Kotick faced explosive revelations that he personally shielded accused abusers, concealed sexual assault allegations, and threatened an assistant's life. Instead of being fired, he walked away with a golden parachute worth over $400M when Microsoft absorbed the embattled publisher in a $69 billion buyout.

And in case you’re wondering, people like Bobby Kotick represent actual risk; here’s a summary of legal action against Activision/Bobby:

The California Civil Rights Department sued over a pervasive "frat boy" culture marked by constant sexual harassment, unequal pay, and retaliation against female employees. Activision settled in December 2023 for $54 million, sending roughly $46 million directly to female workers.

The Equal Employment Opportunity Commission targeted widespread sexual harassment and pregnancy discrimination across Activision Blizzard’s gaming studios. The company settled via a consent decree in 2022, creating an $18 million compensation fund for impacted workers.

The SEC charged leadership with failing to track workplace misconduct complaints and using restrictive separation agreements that muzzled potential whistleblowers. Activision settled in early 2023 by paying a $35 million civil penalty without admitting wrongdoing.