FORMER 7-ELEVEN CEO TO HEAD BLOCKBUSTER
The former CEO of 7-Eleven, James Keyes, will replace John Antioco as chief of Blockbuster, Inc. who is reportedly resigning following a dispute over his pay. Antioco agreed to leave in March after billionaire investor Carl Icahn led a fight to reduce his $16.3 million compensation.
As some of you may remember, Keyes left 7-Eleven in 2005 after the company was sold to its Japanese parent Seven & I Holdings Co. His three-year employment contract with Blockbuster allots him an annual salary of no less than $750,000. James is also entitled to a bonus of at least $500,000 as well as option grants, according to a regulatory filing.
As some of you may remember, Keyes left 7-Eleven in 2005 after the company was sold to its Japanese parent Seven & I Holdings Co. His three-year employment contract with Blockbuster allots him an annual salary of no less than $750,000. James is also entitled to a bonus of at least $500,000 as well as option grants, according to a regulatory filing.
posted at 12:09 PM
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