Electronic Arts CEO Andrew Wilson has chopped his 2022 salary in half — from $39.2 million to $19.9 million — after the company promised changes following negative shareholder feedback.
Back in June 2021, EA promised to deliver “substantial changes” after shareholders shared concern over pay for CEO Andrew Wilson and other executives at the company. Now, one year later, new financial filings show that the the EA CEO’s salary has been cut.
Amid a period of financial turmoil, following the disastrous launch of some of EA’s biggest franchises that included Battlefield 2042, it’s unsurprising that leadership would accept a pay reduction.
But even this massive cut still left Wilson with quite a hefty salary remaining.
EA boss gets salary cut in half
EA’s 2022 SEC filing revealed that the gaming giant’s massive gains from FIFA 22 and Apex Legends were offset by the losses from Battlefield 2042. The poor financial performance meant that some changes would be in the works and it appears this salary cut is the first salvo.
The news of salary cut comes courtesy of Eurogamer, who reported that the decision was made following the rare “no” vote for raises to company executives from shareholders. Amid promises to make changes, Wilson’s salary was shrunk to $19.9 million for the financial year ending March 31.
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The EA CEO’s salary reduction represents a 50% pay decrease. However, many are pointing out that Andrew Wilson was ranked as the 16th most overpaid CEO by As You Sow for his previous salary of $40 million. As You Sow therefore rated Wilson as the 16th most overpaid executive based on his salary compared to revenues generated.
Observers also point out that, despite the pay cut, Wilson’s salary far outstrips those of EA’s rank-and-file workers. According to EA’s financial report, Wilson’s new salary is still 172 times the median salary of EA employees, which sits at $115,569.