dailynewsnblog
When Saudi Arabia’s leveraged buyout of Electronic Arts is finalized, the newly private company won’t have to release any financial documents to the public. In the meantime, EA’s latest financial disclosure has revealed that CEO Andrew Wilson received a massive $30 million increase in his compensation this year, and he wasn’t the only EA executive to reap the rewards.
Per EA’s report filed with the Security and Exchange Commission, Wilson’s compensation package in the previous fiscal year rose by $8 million to $38 million. That total includes bonus payments and stock options. The report also notes that Wilson’s $38 million payout has a 305-1 ratio to the $126,612 annual total compensation received by EA’s median employee.
Another eye-opening fact uncovered in the report notes that Wilson only flies on private planes rather than commercial airliners. According to the filing, Wilson received this perk to ensue “his personal safety and that of his family based on threat intelligence.” No particular threats were shared, but it was noted that Wilson’s private flights extended to his personal use as well.
The sky-high salaries of other EA execs was also shared, including the following individuals:
President of EA Entertainment, Laura Miele — $13.7 million
Chief Financial Officer, Stuart Canfield — $11.3 million
Chief Legal Officer, Jake Schatz — $8.4 million
Chief People Officer, Mala Singh — $8.3 million
Like Wilson’s compensation packages, these totals include bonus payments and stock options. The report goes on to tout EA’s success in implementing its AI strategy and the financial performance of Battlefield 6 as company highlights. However, EA laid off staff from all four studios under the Battlefield Studios banner earlier this year while characterizing the cuts as a realignment.
Miele recently declared that the company’s use of AI has led to a “real rise in creativity” among developers who have embraced it. EA’s sale to Saudi Arabia’s Public Investment Fund has also cleared a major hurdle following approval of the European Commission. For now, the deal hasn’t been closed yet.
