Business & Investment

Cineworld bonus scheme faces investor backlash

Cineworld faces investor backlash over plans to pay CEOs a bonus of up to £ 65m, despite receiving taxpayer cash to survive the pandemic.

Cineworld faces investor backlash over plans to pay CEOs a bonus of up to £ 65m, despite receiving taxpayer cash to survive the pandemic.

More than 5,000 staff were fired while 127 cinemas in the UK were closed. But next week, the board will try to promote a wage policy and long-term bonus scheme that can give up to £ 208 million to bosses.

Difficult times: The latest James Bond movie, No Time to Die (left), was delayed again, but Cineworld boss Mookey Gradinger (right) and his brother Israel Will receive £ 33 million each

Meanwhile, the film industry was hit another hit yesterday when the latest James Bond movie, No Time to Die, was postponed again until fall.

But as Cineworld’s share price reaches 190p within three years and approaches its pre-pandemic level of 197p, CEO Mooky Greidinger (pictured below) and his brother Israel will each receive £ 33m. Will be.

When the stock reaches 380p, the brothers will each be handed £ 65m. The top three investor advisory groups are asking shareholders to vote against the scheme.

The Gradinger family owns a 20% stake in Cineworld and is wondering if an advisory group “needs to give more incentives” to the owners.

Cineworld declined to comment.

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Cineworld bonus scheme faces investor backlash

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