Blockbuster gets new CEO in bid to keep pace with Netflix |
| Houston Chronicle - Jul 2, 2007 |
Blockbuster has named former 7-Eleven chief James Keyes to replace its chief executive, John Antioco, who is resigning following a pay dispute.
Antioco agreed in March to leave Blockbuster after billionaire investor Carl Icahn led a fight to reduce his $16.3 million compensation.
Keyes helped lead 7-Eleven to 36 consecutive quarters of same-store sales gains as chief from 2000 to 2005. He also served as chief financial officer and chief operating officer.
"John Antioco set the company up to succeed but moved a bit too slowly in aligning costs and shedding nonstrategic assets for the board's tastes," said Michael Pachter, a Los Angeles-based analyst at Wedbush Morgan Securities.
Read Full Article from Houston Chronicle
- Posted: 2007-07-03 10:03:15
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