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Yemenidjian: MGM Says CEO's Bonus Less Glamorous

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  • Yemenidjian: MGM Says CEO's Bonus Less Glamorous

    Yemenidjian: MGM Says CEO's Bonus Less Glamorous

    Doers and doings in business, entertainment and technology

    Faces In The News

    Forbes.com
    02.28.05

    By Greg Levine

    Cut. Metro-Goldwyn-Mayer (nyse: MGM) on Monday said it
    paid Chairman and Chief Executive Alex Yemenidjian a
    $1.13 million bonus last year. That's down from $1.45
    million the CEO got for 2003, according to the
    company's filing with the U.S. Securities and Exchange
    Commission. The legendary film and TV studio said the
    head honcho's 2004 package also included a base salary
    of $2.5 million, which stayed the same over the last
    two years. Although the studio posted a 2004 loss of
    $29.2 million, or 12 cents per share, compare that to
    MGM's loss of $161.8 million, or 66 cents per share,
    in 2003. Yemenidjian has served as chairman and CEO of
    the entertainment production company since April 1999,
    and a director since November 1997. The terms of his
    employment agreement call for him to keep the C-level
    posts through April 30, 2007. MGM is in the process of
    being acquired by an investors' consortium with Sony
    (nyse: SNE) in its vanguard. Industry rumor had
    suggested Yemenidjian as Michael Eisner's successor at
    The Walt Disney Co. (nyse: DIS) when the latter leaves
    the CEO post in 2006, but MGM's head waved off the
    idea, saying he preferred to own a significant piece
    of the next firm he captains.


    http://www.forbes.com/2005/02/28/0228autofacescan06.html?partner=rss

    From: Emil Lazarian | Ararat NewsPress
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