AMC Entertainment CEO Adam Aron Asks Board To Freeze His Pay; “I Do Not Want More When Our Shareholders Are Hurting”
deadline.comAdam Aron said today he’s asked the theater chain’s board of directors to freeze his compensation for 2023 given the decline in AMC stock. “Biggest inflation in 40 years, so in 2023 companies will grant large % salary raises.
But I do not want “more” when our shareholders are hurting. So, I recommended to the AMC Board to red circle and freeze both my target cash and target stock pay for 2023.
NO INCREASE,” he tweeted. He said he also asked 15 to 20 of AMC’s senior executives to forego an increase to their cash salaries for 2023. “When CEO’s “ask,”execs to their credit usually agree.
I sincerely thank them for that. AMC has a very dedicated management team.” Asked if employees would get raises, he said “absolutely yes.” “We are asking for financial sacrifice only from those at the very top.
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