Activision Shrinks Distribution Executive's Role

Activision (ATVI Quote) is easing out the head of its distribution division from handling daily operations.

The video-game software publisher has reached an agreement with Richard Steele, president of Activision distribution, that will limit his involvement in the day-to-day running of the company's combined distribution holdings unit and will reduce his salary as a result, Activision said in a regulatory document filed Wednesday. Steele, who has served in his current position since 2002, will continue to be involved in setting the strategy and helping make executive-level decisions for the distribution company, according to the filing.

The agreement "contemplates a succession for senior management of CDH," Activision said in the filing, adding that Steele's "responsibilities will be assumed by other executives currently employed by CDH." Activision didn't disclose why it was making the change. ...