Well, that former EMI Music chief Alain Levy did rather well out of being fired. In fact, I think my new ambition in life is to fuck up a major record company. Clearly there's good money in it. According to EMI's annual report the former recorded music boss received a £2.5 million loss of employment compensation package after being kicked out of his job, in addition to a £1.1 million "incentive remuneration", 20 million share options and a one year retirement package. Which tells you one thing. He was a damn site better at negotiating employment contracts than running a record company, albeit one that was already seeing a sales decline when he took over in 2001.
Jun 19, 2007
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1 min read
Former EMI chief got multi-million pay off
EMI's annual report reveals former recorded music chief Alain Levy received a £2.5 million compensation package on leaving, plus £1.1 million in incentive pay and share options.