AMC CEO Wants His Pay Frozen in 2023

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AMC CEO Wants His Pay Frozen in 2023

AMC CEO Adam Aron wants his company’s board of directors to freeze his pay in 2023 over concerns for shareholders.

With an economic downturn, many companies are looking for ways to cut costs and reduce expenses. Many have turned to layoffs as a prime way to accomplish those goals. AMC’s Aron has a different idea, however, calling on his board to freeze his pay for 2023.

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 also asked his company’s top executives to follow his lead.

2 of 3/ Despite high inflation, I also “asked” our most senior officers (15 – 20 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.

— Adam Aron (@CEOAdam) December 27, 2022

Aron made clear he believes that what he is doing, and asking his management team to do, is the right course of action.

3 of 3/ No increase for those at the top is the right thing to do. I have fans and bashers on Twitter, those who agree or disagree with my decisions. But know this: my motives are pure. I try as best as I know how to lead AMC through the painful aftermath of this horrid pandemic.

— Adam Aron (@CEOAdam) December 27, 2022

Aron’s take is a refreshing change from the stand many CEOs take.

AMC CEO Wants His Pay Frozen in 2023
Matt Milano

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