He's been there since the early 1990s, and the first CoD, Guitar Hero, etc., properties came out under his watch. As to milking them as franchises -- hey, from a business standpoint, it's been printing insane amounts of cash. It's not creatively satisfying, and I'm not defending it as the height of entrepreneurial adventurism or innovation. But he found and perfected what became the definitive business model for the industry. Regardless of what you think of his practices, he's been successful.
What I mean by all this is it seems Bobby Kotick could hardly care if he's running a multi-national pizza franchise, a music label, or a construction conglomerate. He's just a numbers guy.
It's really hard to tell if someone like Kotick is running the business in a sustainable fashion, or if he's just beating all the value out of the company, getting in a good run, and then dumps the company in someone else's lap when it's exhausted.
The biggest threat is that they'll run out of franchises to ruin.