EXHIBIT 99.1
Contacts: Kristin Mulvihill Southey
Vice President, Investor Relations
(310) 255-2635
ksouthey@activision.com
Maryanne Lataif
Vice President, Corporate
Communications
(310) 255-2704
mlataif@activision.com
FOR IMMEDIATE RELEASE
ACTIVISION FURTHER STRENGTHENS SENIOR MANAGEMENT TEAM
Michael Griffith Named President and Chief Executive Officer,
Activision Publishing, Inc.
Ron Doornink Appointed Chairman, Activision Publishing, Inc.
Santa Monica, CA - June 16, 2005 -- Further strengthening the senior management
team of Activision, Inc.'s (Nasdaq: ATVI) Publishing unit, Michael Griffith was
named President and Chief Executive Officer and Ron Doornink appointed Chairman.
The announcement was made today by Robert Kotick, Chairman and CEO of
Activision, Inc.
A 24-year veteran of Procter & Gamble, Griffith, age 48, brings an exceptionally
well-balanced blend of management leadership and sales and marketing experience
to Activision Publishing. Most recently, as President of the Global Beverage
Division, a global organization with 3,800 employees, Griffith rebalanced
Procter & Gamble's beverage brand portfolio expanding the division's operating
margins while achieving market share growth.
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As President and Chief Executive Officer, Griffith will assume responsibility
for Activision Publishing's operational management including its studio,
publishing and corporate activities.
Doornink has served as Chief Executive Officer of Activision Publishing, Inc.
since March 2002. Prior to this, he served as President and Chief Operating
Officer of the company since October 1998. In his new role, Doornink will
continue to provide direction in planning Activision's growth strategies.
Robert Kotick will continue to serve as Chairman of the Board and Chief
Executive Officer of Activision, Inc. and Brian Kelly will remain Co-Chairman of
Activision, Inc. As they have for the past 14 years, Kotick and Kelly will focus
their attention on the company's strategic direction, corporate governance and
maximizing its long-term financial performance.
In making today's announcement, Kotick said, "Since 1991, Activision has grown
into a $1.4 billion company with record earnings. As we further expand into new
geographies and product categories and capitalize on the numerous opportunities
provided by the introduction of new platforms and distribution avenues, Mike's
track record of building global brands, managing large and complex organizations
and successfully improving operating performance during his various assignments
at Procter & Gamble will help us to achieve our ambitious plans."
Kotick added, "Ron Doornink has been integral to building Activision's market
leadership over the past seven years. In this new role, Ron will continue to
provide us with guidance and leadership as the company continues to grow."
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Ron Doornink, Chairman of Activision Publishing, Inc. and member of the
company's Board of Directors, said, "Having worked with Mike for over a decade
at Procter & Gamble, I have witnessed his skill in building businesses and
leading high-performing teams. His addition to Activision's senior management
team directly reflects the company's commitment to future growth and enhancing
shareholder value."
"I am very impressed with everything that Activision has accomplished and yet I
see tremendous additional upside opportunity for both sales and margin expansion
as the industry grows and evolves," said Griffith. "I'm excited to be part of
the company's next stage of growth."
Prior to joining Activision, Griffith served as President of Global Beverages at
Procter & Gamble. In this key leadership role, he was responsible for driving
operating margin expansion while achieving market share growth through a strong
emphasis on brand equity, product innovation and international expansion.
In addition, Griffith ran Procter & Gamble's Fabric & Home Care business in Asia
and has held a number of key brand management, sales marketing and general
management assignments globally on some of Procter and Gamble's most important
brands.
Griffith holds a B.A. degree in mathematics, computer science and economics from
Albion College and an MBA in finance & strategic planning from the University of
Michigan.
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Headquartered in Santa Monica, California, Activision, Inc. is a leading
worldwide developer, publisher and distributor of interactive entertainment and
leisure products. Founded in 1979, Activision posted net revenues of $1.4
billion for the fiscal year ended March 31, 2005.
Activision maintains operations in the U.S., Canada, the United Kingdom, France,
Germany, Italy, Japan, Australia, Scandinavia, Spain and the Netherlands. More
information about Activision and its products can be found on the company's
World Wide Web site, which is located at www.activision.com.
The statements made in this press release that are not historical facts are
"forward-looking statements". These forward-looking statements are based on
current expectations and assumptions that are subject to risks and
uncertainties. The Company cautions readers of this press release that a number
of important factors could cause Activision's actual future results to differ
materially from those expressed in any such forward-looking statements. Such
factors include, without limitation, product delays, retail acceptance of our
products, industry competition, rapid changes in technology and industry
standards, protection of proprietary rights, maintenance of relationships with
key personnel, vendors and third-party developers, international economic and
political conditions, integration of recently acquired subsidiaries and
identification of suitable future acquisition opportunities. These important
factors and other factors that potentially could affect the Company's financial
results are described in our filings with the Securities and Exchange
Commission, including the Company's most recent Annual report on Form 10-K and
Quarterly Report on Form 10-Q. Readers of this press release are referred to
such filings. The Company may change its intention, belief or expectation, at
any time and without notice, based upon any changes in such factors, in the
Company's assumptions or otherwise. The Company undertakes no obligation to
release publicly any revisions to any forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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