MGM Holdings fired former CEO Gary Barber unexpectedly in March and settled with him for $260 million in June in exchange for his remaining equity stake and three-year standstill agreement. Barber ran afoul with Kevin Ulrich, chairman-CEO of MGM majority owner Anchorage Capital Group and the head of the studio's board, over their visions for the future. MGM has been run by a management team of senior executives following the firing of Barber.