Good news for everyone at EMI. Well, one person at EMI. The major label's boss, Alain Levy, has negotiated a new pay package which will combine a 42% pay increase and five year share incentive plan, which sounds very nice thank you very much. In return Levy has agreed to cut short his service contract (whatever that means) and has committed to serving a one year notice should he wish to leave. Receiving the full new payment package will also be dependent on producing better operating margins and sales increases than his music industry rivals. EMI bosses have clashed with their shareholders over generous executive pay deals in the past, but the Levy deal seems to have been reached without incident.
Jun 11, 2004
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1 min read
EMI boss negotiates new pay packet
EMI boss Alain Levy has negotiated a new pay package including a 42% pay rise and a five-year share incentive plan, tied to performance targets.