AMC Entertainment CEO Adam Aron asks board to freeze pay

Adam Aron, CEO AMC Theaters, explaining on Twitter that he asked the board to freeze his compensation through 2023.the news is in AMC Stock Falls.

in a thread tweets, Aron wrote, “biggest inflation in 40 years, so big company raises by 2023. But I don’t want ‘more’ when our shareholders get hurt. So I recommend that the AMC board put my 2023 Target cash and target stock paid red circled and frozen. No increase.”

He continued: “Despite the high rate of inflation, I also ‘asked’ our most senior executives (15 to 20 executives) to forego a cash salary increase for 2023. When the CEO ‘asked’ , reputable executives usually agree. For that I sincerely thank them. AMC has a very dedicated management team.” Fans and detractors, who agree or disagree with my decisions. But know this: My motives are pure. I will do everything in my power to lead AMC through the painful aftermath of this terrible pandemic.”

He also responded to a tweet asking employees if they could get a raise with an offer tweet. He wrote: “Yes, absolutely. We only ask for financial sacrifices from those at the top. It’s hard to get workers. We have to pay our people fairly. In fact, our ‘camera crew’ (our Hourly workers in U.S. theaters) have been growing by double-digit percentages.”

Aaron previously announced the between capitals to reduce outstanding debt. While his 2022 package is unknown, Aron’s 2021 compensation totals $18.9 million. His compensation includes a base salary of $1.45 million, cash compensation and stock. In 2020, he earned $20.9 million.