Thndr Claps » U.S. Claps » Entertainment 🎭 » AMC CEO freezes his own salary 😌
The ClapAMC Entertainment (NYSE:AMC) CEO Adam Aron asked for his salary to be frozen as the company continues to struggle significantly.
WhatAron understands the difficult situation the company is going through, with streaming services rising in popularity and fewer blockbusters being released this past year.
In 2021, Aron earned $18.9mn, which prompts him to urge other company executives to follow in his footsteps this year and pass on their salary.
So WhatThe company has seen its shares decline by around 75% so far this year.
Now WhatThe company has decided not to follow through on acquisitions of movie theaters from Cineworld.
In addition, the company aims to raise $110mn in equity capital by selling preferred shares and a potential reverse stock split.
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