Activision Chief Reduces Pay, Pledges Changes Amid Culture Probes

Bobby Kotick, the longtime chief executive of videogame publisher Activision Blizzard Inc., told employees Thursday he would take a pay cut and end mandatory arbitration for internal harassment and discrimination claims amid regulatory probes into the company’s culture.

Mr. Kotick, 58 years old, was the second-highest paid chief executive nationwide, earning $154 million in 2020, according to The Wall Street Journal’s annual ranking of pay and performance for leaders of S&P 500 companies.