Report: UMG's Sir Lucian Grainge Has Contract Extended For Five Years
UNIVERSAL MUSIC GROUP's Board Of Directors extended the contract of SIR LUCIAN GRAINGE for five years to remain Chairman/CEO until MAY 1st, 2028. His new five-year deal mixes together components of cash and equity-based compensation (his previous deal was reportedly cash-only package) with his current annual salary of $5 million reduced by two-thirds, according to MUSIC BUSINESS WORLDWIDE.Subject to performance incentives, he will also be eligible for an annual bonus with a target of $10 ...
Source: allaccess.com