Following bankruptcy, Regal Cineworld is revamping its leadership team and focusing on expansion by bringing on board an experienced entertainment industry professional to fill a brand-new position as Chief Commercial Officer.
Adam Rymer, a former executive at Legendary Entertainment and Universal Pictures, has been recruited by a significant cinema chain to manage their U.S. film and content team. Additionally, he’s been tasked with enhancing revenue in various sectors such as ticket sales, pricing, marketing, loyalty programs, and more. Regal Corporation made this announcement on Thursday. Rymer will now report directly to Eduardo Acuna, who took over as CEO from Moshe “Mooky” Greidinger in 2023.
Rymer has mentioned his interest in the theater exhibition industry for quite some time, focusing particularly on its potential for development and expansion. It so happens that he’s now seized the chance to join Regal as their Chief Commercial Officer, where he’s eagerly looking forward to collaborate with a remarkable team and build upon their long-standing achievements.
Recently, the Knoxville-based division of movie exhibitor Cineworld, known as Regal, has been making appointments to its executive team. In January, the company brought on Kelly Dowdy as their Chief Digital and Technology Officer and Adam Snow as their Chief Strategy Officer. Prior to this, in December, Regal managed to secure a $1.9 billion Term B loan as part of a refinancing process with a maturity date of December 2031. This is accompanied by a $350 million revolving credit facility.
In the previous year, Regal committed $250 million to modernize and renovate its movie theaters, which included installing high-end recliners and additional amenities. As of December, this upgrade project encompassed approximately 420 locations nationwide. Notably, Cineworld sought bankruptcy protection in 2022 but reorganized a year later following a restructuring process.
Acuna remarked that Adam’s career so far provides a unique combination of expertise from within our field and related sectors, which could introduce fresh ideas for our business. He is introducing a distinct viewpoint that complements the existing leadership at Regal exceptionally well, having played significant roles in shaping it to its current state.
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2025-02-14 16:54