But 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.
The AMC head, who frequently takes to the social media platform to play to retail investors that have back-stopped his company’s stock price during the pandemic, said he had asked his top corporate officers, or between 15 and 20 executives, to forego any 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,” Aron added.
In April 2022, the theater chain disclosed that Aron was paid $18.9 million in 2021, down from $20.9 million in overall compensation in 2020 when theaters were mostly closed for months amid the pandemic and AMC was forced into major debt restructuring. Aron’s appeal for sacrifice by himself and other top officers at the exhibitor comes as investors consider a stock price that has fallen from dizzying heights reached earlier during the pandemic.
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