{"id":519399,"date":"2021-07-28T16:48:04","date_gmt":"2021-07-28T20:48:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cinemark-announces-executive-leadership-transition-plan\/"},"modified":"2021-07-28T16:48:04","modified_gmt":"2021-07-28T20:48:04","slug":"cinemark-announces-executive-leadership-transition-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cinemark-announces-executive-leadership-transition-plan\/","title":{"rendered":"Cinemark Announces Executive Leadership Transition Plan"},"content":{"rendered":"

<\/p>\n

Cinemark Announces Executive Leadership Transition Plan<\/b><\/p>\n

Mark Zoradi, CEO, to retire from Cinemark at the end of the year while continuing on the Board of Directors<\/i><\/p>\n

Sean Gamble, CFO & COO, named as Zoradi\u2019s successor as CEO<\/i><\/p>\n

Promotions announced for Wanda Gierhart Fearing, Damian Wardle, Sid Srivastava<\/i><\/p>\n

PLANO, Texas–(BUSINESS WIRE<\/a>)–Cinemark Holdings, Inc.<\/a>, one of the world\u2019s largest and most influential movie theatre companies, today announced that Mark Zoradi, CEO and Board Director, will retire as Cinemark\u2019s CEO at the end of 2021. Zoradi will remain a member of the Board of Directors until the 2024 annual meeting when his continuing term will be subject to board nomination and shareholder election. Sean Gamble, CFO & COO, has been named as Zoradi\u2019s successor as CEO effective Jan. 1, 2022. Effective today, Gamble has been named President and he will serve as CEO & President following Zoradi\u2019s retirement. Zoradi will work closely with Gamble and the executive leadership team over the course of the next five months to ensure a smooth transition.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210728005909\/en\/<\/a><\/p>\n

\"Cinemark<\/p>\n

Cinemark announces succession plan. Mark Zoradi (right) announces retirement from Cinemark at the end of the year and Sean Gamble (left) is named as successor to CEO. (Photo: Cinemark)<\/p>\n<\/div>\n

\nGamble is a long-term industry executive with a deep understanding of the broad media and entertainment environment having served as Executive Vice President and CFO of Universal Pictures prior to joining Cinemark. He also held multiple senior leadership roles within the General Electric Company prior to his CFO role at Universal. During his tenure at Cinemark, Gamble has been instrumental in leading the strategic vision of the company, enhancing and strengthening Cinemark\u2019s financial discipline and capabilities, driving varied growth and margin expansion initiatives, introducing a culture of continuous improvement and streamlining numerous processes, all of which have been transformational for the company.\n<\/p>\n

\nThe search for Gamble\u2019s successor as CFO is currently underway.\n<\/p>\n

\n\u201cServing as Cinemark\u2019s CEO during the past six years has truly been the highlight of my career,\u201d stated Zoradi. \u201cWhile I\u2019ve been in the industry for more than four decades, the vast majority was spent on the studio side of the business. I\u2019ve thoroughly enjoyed participating in all aspects of theatrical exhibition and will treasure the time spent and deep connections established with the Cinemark team, as well as the many other industry relationships formed around the world.\u201d\n<\/p>\n

\nZoradi continued, \u201cSean has been a tremendous partner in overseeing Cinemark\u2019s operational execution and strategic vision, as well as effectively navigating the prolonged effects of COVID-19. As the industry is now on the path to recovery from the pandemic, I felt it was time to begin transitioning the CEO role to Sean\u2019s capable hands. I have full confidence in Sean\u2019s leadership abilities, particularly with the strength and depth of the executive team, and I look forward to continuing our relationship in my Board Director capacity.\u201d\n<\/p>\n

\nLee Roy Mitchell, Cinemark\u2019s Founder and Executive Chairman stated, \u201cWe are grateful for Mark and the significant impact he has made on our company, and our industry, during his tenure as CEO. Mark reinvigorated a culture of innovation and evolution in our company, challenging the teams\u2019 line of thought and rationale, all while staying steady at the helm when our industry needed him most. We are thrilled that Cinemark will continue to benefit from Mark\u2019s background, business expertise and perspective as an ongoing member of our Board.\u201d\n<\/p>\n

\nMitchell continued, \u201cAs an integral member of the executive leadership team with a consistent emphasis on innovation, growth and process improvement, Sean has proven to be the natural successor following Mark\u2019s retirement. He will continue the momentum of the company as it recovers from COVID-19 and further solidify our industry-leading position. Sean has the full support of the Board and we are confident in a smooth transition over the coming months.\u201d\n<\/p>\n

\n\u201cIt is an honor to be named Cinemark\u2019s next CEO and have an opportunity to lead such a world class team,\u201d said Gamble. \u201cIn this role, I will aim to continue building upon Cinemark\u2019s over 35-year history of growth, industry leadership and entertaining guests through an unparalleled cinematic experience. I look forward to continuing to work closely with our exceptional leadership team and Board of Directors as we drive a wide range of consumer-facing and productivity initiatives that will position Cinemark for ongoing success in the evolving media and entertainment landscape.\u201d\n<\/p>\n

\nGamble continued, \u201cIt\u2019s been an absolute pleasure working alongside Mark over the course of the past six years. I am grateful for his partnership and mentorship during that time, as well as his support in ensuring a seamless transition over the coming months.\u201d\n<\/p>\n

\nAs part of the executive leadership transition, Cinemark also announced the promotion of three executives:\n<\/p>\n

Wanda Gierhart Fearing has been promoted to Chief Marketing and Content Officer.<\/b> Since joining Cinemark in 2018, Gierhart Fearing has significantly enhanced the strength of key marketing functions and spearheaded the company\u2019s e-commerce and digital\/social media transformation. Her extensive retail background has been invaluable in numerous company initiatives, including the re-launch of Cinemark\u2019s branding, evolution of the customer experience and in-theatre journey, as well as modernizing and streamlining theatre designs. Gierhart Fearing has also been instrumental in building and enhancing the company\u2019s studio marketing and exhibitor relations rapport through her strategic partnerships team. To benefit from the growing synergies between marketing and content distribution, the company is re-aligning its internal corporate structure. Justin McDaniel will continue to lead Cinemark\u2019s outstanding film team and now report to Gierhart Fearing.\n<\/p>\n

Damian Wardle has been promoted to EVP Theatre & Technology Operations.<\/b> Wardle has been with Cinemark\/Century for over thirty years and has significant experience in field operations, information technology and theatre technology. He is a highly respected industry leader who is widely recognized as the best in the theatre tech business. Under Wardle\u2019s management, Cinemark has consistently delivered the highest level of projection and sound quality, developed a top-notch guest service center, and designed the strategy for laser projection deployment across the company\u2019s global platform over the course of the next decade. Throughout the pandemic, Wardle was an evolutionary change agent through his tactical planning, forward thinking and operational excellence, which were vital in the successful staging, relaunch and ramp-up of Cinemark\u2019s theatres. With this promotion, Wardle will now oversee theatre operations with the continued leadership of Steve Zuehlke and his industry-leading field operations team.\n<\/p>\n

Sid Srivastava has been promoted to EVP Human Resources, Diversity, Equity & Inclusion and Corporate Social Responsibility.<\/b> Prior to joining the company in 2016, Srivastava had an extensive background with Coca-Cola and the General Electric Company spanning nearly twenty years. During his tenure at Cinemark, Srivastava has implemented a new human resources management system, redesigned the company\u2019s total rewards structure and led a range of strategic organizational development programs. This promotion is in recognition of his proven leadership, proficiency, and collaboration, as well as his ability to drive initiatives and deliver results. Furthermore, his role will expand to oversee the company\u2019s ongoing Diversity, Equity & Inclusion and Corporate Social Responsibility initiatives.\n<\/p>\n

\nIn addition, the full management team is comprised of highly skilled and experienced leaders with significant industry tenure represented by the following department heads:\n<\/p>\n