Activision Blizzard CEO Bobby Kotick is stepping down following Microsoft's acquisition of the company.

The U.K.'s Competition and Markets Authority and the Federal Trade Commission are attempting to block the acquisition.

Future plans for Activision Blizzard will be announced in 2024.

Some executive-level changes have already occurred, including the departures of the chief communications officer and vice chairman.

Other Activision Blizzard executives will leave in March.

Microsoft intends to retain the remaining leadership team and has incorporated Activision Blizzard executives under Matt Booty, the president of game content and studios.