Industry Moves: Blockbuster CEO Agrees To Exit By Year’s End

John Antioco, Blockbuster’s chairman and CEO for the past decade, has agreed to leave the movie rental company by the end of this year, the company said. Release. Blockbuster has struggled with competition from Netflix and the like as well as the transition to digital; as we just reported, an acquisition of MovieLink may be announced soon. The move follows a compromise with Blockbuster’s board of directors over his 2006 bonus. Though he said he’d met the performance goals qualifying him for a $7.7 million bonus, Antioco has accepted a $3.1 million amount instead. That amount is still higher than the $2.3 million initially offered by the board, according to the WSJ. The board, led by Carl Icahn, apparently felt Antioco’s desired bonus was too extravagant.