Contributors' opinions are their own.
Aron requested a freeze of his personal pay because of the company's stock losses.
1 of 3/ 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.
— Adam Aron (@CEOAdam) December 27, 2022
Aron said that companies will give large salary raises in 2023 because of the biggest inflation in four decades. I don't want more when our shareholders are hurt. I told the AMC board to red circle and freeze my target cash and stock pay. No increase.
Aron said he had asked more than a dozen of his company's senior officers to do the same.
AMC's popularity as a "meme stock" led to a sharp rise in its stock price in 2011. The prices went from less than $2 to more than $50. The rise of streaming services and the one-two punch of COVID-19 has hurt the stock.
Tuesday was a bad day for AMC. The company is a significant player in the film industry with over 900 theaters worldwide.
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