Activision Blizzard Inc. announced on Wednesday it's launching a new consumer products division and is bringing in Tim Kilpin to take on the role of chief executive. Kilpin most recently served as president and chief commercial officer at Mattel Inc. and was at the Walt Disney Co. before that, where he oversaw global cross-category franchise plans for Disney Princess, Mickey Mouse and Pixar properties. Activision Blizzard expects its new consumer products division to expand the company's ability to offer its portfolio of game franchises and characters to audiences and attract consumers. The company said it plans to do so through, among other things, interactive content, TV and film, competitive gaming and mobile. "Inspiring play, competition and community underpins everything we do, and giving audiences new ways to experience our franchises is core to this commitment," Ativision Blizzard CEO Bobby Kotick said in a statement. "Under [Tim Kilpin's] leadership, we will elevate our consumer product offerings to the same level of exceptional quality as our games and transform the ways audiences connect with the characters they love in their everyday lives." Shares of Activision Blizzard are up more than 15% in the last 12 months, while the S&P 500 Index is up nearly 18%.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.