Ubisoft CEO Yves Guillemot will voluntarily take a $327,000 (USD) pay cut for the upcoming year. Ubisoft says that this "is a personal decision" by Guillemot and was done voluntarily as Ubisoft "had not reached the financial targets that it had publicly communicated to the markets."
Guillemot waived his "annual variable compensation," which is just a bonus on top of his usual salary that differs based on how well the company performs. This $327,000 pay cut is roughly a third of Guillemot's annual pay. So, just in case you were worried that the millionaire is now poor, he'll still be making about $656,000 in the upcoming year. That amount also doesn't include compensation from stocks that will be available to him after 2023.
This pay reduction was revealed during a recent financial filing (PDF link) by Ubisoft. The previous year saw their operating profits fall by about 14%. Sales revenues fell 5% in the past year. Ubisoft's stock value also plummeted by 50% in the past year.
