Activision Publishing President Vrabeck Resigns

Officials from Activision have confirmed that Kathy Vrabeck, president of the Activision Publishing division of Activision, Inc. has resigned as an officer of the company and its subsidiaries, effective from last Friday. She will however continue as an employee of Activision Publishing until April 1st 2006. Vrabeck has been at the company for over six years, and is one of the highest ranking women in the game publishing industry today. However, reports relayed via financial website TheStreet.com suggest that Vrabeck's reasons for leaving may have been partially resulted from events in June, when former Proctor & Gamble executive Michael Griffith was brought in to replace Activision Publishing CEO Ron Doornink, denying Vrabeck a chance to step up to the top position. During the period up to her end date, Vrabeck will receive her base salary, reported in SEC filings as $500,000, a portion of her annual bonus, payment for accrued vacation days and all benefits under the company's benefit plans. Certain of her unvested stock options, though, have been cancelled as a result of her planned departure. Vrabeck has given no indication as to what she will do once she leaves Activision next year, or whether she will remain in the video game industry. She joined Activision in 1999 from ConAgra Foods where she was senior vice president/general manager of the company’s snack food division.