Even though Live Nation’s operating income dropped last year, their CEO Michael Rapino earned more than twice the salary he made in 2009 earning $15.9 Million in 2010. The Hollywood Reporter says:
Despite falling operating income, concert promoter Live Nation compensated its CEO with $15.9 million in 2010, more than twice what he earned a year prior, as the company’s stock rose 34 percent.
Michael Rapino’s base salary was $2 million and he was paid a $3 million bonus for completing the merger with Ticketmaster. He also earned $3.8 million by way of a non-equity incentive plan, according to a regulatory filing Friday.
While Live Nation shares rose from $8.51 to $11.42 in 2010, they’ve fallen to $9.87 as of Friday. In February, the company reported revenue had sunk 9 percent in 2010 and operating income of $103.2 million in 2009 had turned to a loss of $20.8 million in 2010.
Thoughts?
{ 1 trackback }
{ 2 comments… read them below or add one }
CEOs get their money upfront.
If a company can function with a lower-than-prior-years operating income, and still generate robust revenues, it is either misleading its shareholders or its officers are geniuses.
Live Nation though has not reported positive profits, yet its CEO’s salary has increased exponentially? hmm!!!
I’d say I won’t be buying Live Nation shares anytime soon, but an artist’s best method for generating revenue in this era of dogged CD sales is on the STAGE, and this primarily is Live Nation’s niche – so one never knows what tomorrow may bear.