AMC Entertainment Holdings Chief Executive Officer Adam Aron on Tuesday asked the theater chain operator's board to freeze his compensation next year because of a sharp drop in the company's shares.
Adam Aron, Chairman of the Board and CEO, AMC Entertainment, speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S., October 18, 2021. REUTERS/David SwansonChief Executive Officer Adam Aron on Tuesday asked the theater chain operator's board to freeze his compensation next year because of a sharp drop in the company's shares.
"I do not want 'more' when our shareholders are hurting," Aron, who earned $18.9 million in 2021, said in a series of tweets urging other top AMC executives to also forego their hikes. Shares of the company have declined more than 75% this year as the rise of streaming and fewer blockbuster releases hit footfall at its more than 900 theaters, driving up cash burn and losses.
AMC has tried to ride out the pressure by raising cash and taking advantage of the retail interest it got during last year's meme stock rally. Earlier this month, the company said it would raise $110 million in new equity capital through the sale of its preferred stock and proposed a reverse stock split.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Get a glimpse of the One Plus 11 with these official imagesOnePlus' flagship for 2023 will launch on February 7th, 2023.
Leer más »
AMC Theatres CEO Signals Salary Freeze for Top ExecsBut Adam Aron on Twitter said AMC workers away from the executive suite will likely receive wage increases in 2013 as the exhibition giant competes amid high inflation to hire and retain employees.
Leer más »
What’s on the Horizon for 2023For the editors at Scientific American, a new year is a chance to look ahead and predict what might unfold in the world of science and health.
Leer más »
Marvel's Big Plans For The Avengers In 2023 (Spoilers)This week's Timeless sees the latest adventures of Kang spotlighting other aspects of the upcoming Marvel Universe in 2023, as the previous volume had
Leer más »
Time in the market: Ways to approach crypto investing in 2023Looking to make the most of your crypto investments in 2023? We have the intel you need, with a list of key risks and strategies for smart investing in the face of macroeconomic factors, regulatory pressure, and more.
Leer más »