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Blockbuster CEO To Step Down By End Of 2007

Law360 (March 20, 2007, 12:00 AM EDT) -- The chairman and chief executive of Blockbuster Inc. has ended a drawn-out compensation dispute with billionaire investor Carl Icahn by revealing his plans to leave the movie rental company at the end of the year.

John Antioco’s decision to step down from the company after 10 years raises concerns about Blockbuster’s turnaround strategy and Icahn’s investment plans for Blockbuster as its biggest shareholder and board member.

Antioco and Blockbuster worked out an agreement for his 2006 bonus, which will amount to more than what the board...
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