Cinemark Founder Lee Roy Mitchell to Retire from Board – Latest Hollywood News

Cinemark founder Lee Roy Mitchell is stepping down from the exhibition large’s board of administrators after a close to 40-year profession.

He and his spouse, Tandy, launched Cinemark in 1984, when he first took a seat within the boardroom. Mitchell served as CEO till 2006, and moved from his function as government chairman to member of the board final 12 months.

Kevin Mitchell, who based and served as CEO of ShowBiz Cinemas till he bought his stake within the firm in late 2021, will succeed Mitchell as a director of Cinemark, which is led by Sean Gamble as president and CEO.

“Our strategic imaginative and prescient was to construct a number one international cinema circuit, and I’m humbled to have labored alongside such an unimaginable management staff and board to execute upon that imaginative and prescient. Kevin is a pure successor given his appreciable trade information and expertise gleaned over the previous three a long time,” Mitchell stated of his function alongside together with his spouse in constructing Cinemark to develop into the third largest theater circuit within the U.S. market, with presently practically 6000 cinema screens in 16 nations.

Cinemark has come by means of the disruption of the pandemic with Hollywood studios as soon as once more leaning into theatrical releases. However the exhibitor remains to be battling to deliver viewers into its theaters and away from options reminiscent of Netflix and different digital platforms, not least with the provide of luxurious recliner seating and new eating choices.

Cinemark chairman Carlos Sepulveda paid tribute to Mitchell as he steps down from the board.

“His entrepreneurial spirit, fervor for theatrical moviegoing, and keenness for folks have helped differentiate the corporate and information its strategic course. On behalf of the board and your entire Cinemark staff, we’re immensely grateful to Lee Roy for his management and large worth added through the years, and we’ll work diligently to proceed to place the corporate he based for long-term success,” Sepulveda stated in an announcement.

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