March 21, 2007
Blockbuster CEO Resigns
Blockbuster CEO John Antioco announced yesterday he would leave the company at the end of this year. He and Carl Icahn, a 16% shareholder, have been battling for two years over his compensation and strategy for the corporation. Last month the board refused to pay Antioco the full amount of the 2006 bonus he claimed he was entitled to; they have agreed to a $3.1 million bonus. Antioco also gets $5 million for leaving. See NYTimes, Blockbuster Chief Agrees to Exit Deal; WSJ, Icahn Gets His Way at Blockbuster As Chief Antioco Calls It Quits.
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