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AMC Entertainment CEO Adam Aron Says He’ll Take Pay Cut As Retail Shareholders Who Once Adored Him Protest Sinking Stock
Adam Aron said he and AMC Entertainment board agreed to reduce his target compensation by 25% in 2024 as retail shareholders protest low stock price.
Adam Aron and the AMC Entertainment board have agreed to reduce the CEO’s target compensation by 25% this year, he said, as he’s bombarded with hostility by the theater chain’s large group of retail shareholders angry at the sinking stock. The buying squeezed short sellers and some AMC shareholders blame a Wall Street conspiracy for keeping a lid on the price. And no one needed for the movie industry to be paralyzed by a debilitating strike … The key issues are the long, drawn out recovery and the strikes, combined with the steps we have been forced to take to wade through four years of a depressed box office.” There is hope, of course, he said, and it starts this weekend with Dune: Part Two with a gradual improvement in 2024 and, hopefully, a full recovery in 2025 and 2026.
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