Irving Azoff, the executive chairman of Live Nation Entertainment, left the concert-promotion giant’s board and resigned as an executive, the company said. The music-industry vet is taking with him his business managing the Eagles, Christina Aguilera and a handful of other major acts.
Azoff’s contract hadn’t been due to expire until mid-2014. Live Nation CEO Michael Rapino’s contract, also due to expire in 2014, was recently renewed until 2017. In an SEC filing, Live Nation said that in connection with Azoff’s departure it was paying him nearly $12 million cash and would accelerate the vesting of nearly two million shares and 664,000 options
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