Activision Blizzard shares plummet after Jen Oneal leaves

Activision Blizzard shares fell more than 16% after co-CEO Jen Oneal stepped down from her position three months after J. Allen Brack left the company, leaving Mike Ibarra as the sole leader.

I want you to hear from me personally that I have made the decision to step down as co-CEO of Blizzard Entertainment and will move into a new position before leaving ABK at the end of the year. From now on, Mike Ibarra will lead Blizzard. I am not doing this because I have no hope for Blizzard, quite the opposite - I am inspired by the passion of everyone here, who with all their hearts strives for meaningful, lasting change. This energy has inspired me to go out and explore how I can do more so that games and diversity intersect, and hopefully have a broader impact on the industry that will benefit Blizzard (and other studios) as well. While I'm not entirely sure what form this will take, I'm happy to embark on a new journey.

During the investor meeting, the publisher also announced that Overwatch 2 and Diablo IV had been delayed, saying the decisions would lead to the financial boom the company expected to see next year. That said, Activision Blizzard believes this is the right course of action for its employees, players and the long-term success of the franchises. While there was no specific release date initially, Overwatch 2 was expected to release in 2022.