Madison Square Garden Entertainment Files 8-K Report Announcing Appointment of New CFO

Madison Square Garden Entertainment (NYSE:MSGE) recently submitted an 8-K filing to the Securities and Exchange Commission, reporting the appointment of Robert Langer as the company’s new Executive Vice President, Chief Financial Officer, and Treasurer. Effective January 13, 2025, Langer assumes the executive leadership position within the organization.

Langer brings a wealth of experience from his tenure at The Walt Disney Company, where he held various financial leadership roles since 1999. Most recently, he served as the Global Leader of Enterprise-Wide Financial Planning and Corporate Strategy at Disney. His responsibilities at Disney included overseeing finance processes, annual budgets, corporate strategy, mergers and acquisitions, and other key financial functions.

In conjunction with Langer’s appointment, Madison Square Garden Entertainment and Langer entered into an employment agreement on January 6, 2025. The agreement outlines Langer’s compensation package, which includes an annual base salary of at least $1,000,000, an annual target bonus of no less than 100% of his base salary, and participation in long-term incentive programs alongside other company executives.

As part of his compensation, Langer is expected to receive annual long-term awards with a total target value of not less than $1,700,000. Additionally, he will be granted a one-time special award of restricted stock units valued at $500,000 and a special cash payment of $250,000 upon commencement of his employment. The agreement also specifies provisions for potential severance payment and benefits in case of the termination of Langer’s employment with the company.

Furthermore, the employment agreement includes noncompetition covenants binding Langer post-employment, which restrict his engagement in competitive activities for a specified period. The complete details of the agreement can be found in the Exhibit 10.1 attached to the filing.

Pursuant to this announcement, Madison Square Garden Entertainment looks forward to integrating Langer’s expertise and leadership into its financial operations as the company continues its strategic growth trajectory.

This summary is based on the information provided in the 8-K filing submitted by Madison Square Garden Entertainment to the Securities and Exchange Commission.

The company also included a signed statement by Mark C. Cresitello, Senior Vice President, Deputy General Counsel, and Secretary of Sphere Entertainment Co., the parent company of Madison Square Garden Entertainment, confirming the accuracy of the report.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Madison Square Garden Entertainment’s 8K filing here.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in live entertainment business. The company produces, presents, and hosts live entertainment events, including concerts, sports events, and other live events, such as family shows, performing arts events, and special events. Its operations include a collection of venues, the entertainment and sports bookings business, and the Christmas Spectacular Starring the Radio City Rockettes production.