Exhibit 99.1
Cinemark Announces Executive Leadership Transition Plan
Mark Zoradi, CEO, to retire from Cinemark at the end of the year while continuing on the Board of Directors
Sean Gamble, CFO & COO, named as Zoradi’s successor as CEO
Promotions announced for Wanda Gierhart Fearing, Damian Wardle, Sid Srivastava
PLANO, Texas – Jul. 28, 2021 - Cinemark Holdings, Inc., one of the world’s largest and most influential movie theatre companies, today announced that Mark Zoradi, CEO and Board Director, will retire as Cinemark’s 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’s successor as CEO effective Jan. 1, 2022. Effective today, Gamble has been named President and he will serve as CEO & President following Zoradi’s 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.
Gamble 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’s 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.
The search for Gamble’s successor as CFO is currently underway.
“Serving as Cinemark’s CEO during the past six years has truly been the highlight of my career,” stated Zoradi. “While I’ve been in the industry for more than four decades, the vast majority was spent on the studio side of the business. I’ve 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.”
Zoradi continued, “Sean has been a tremendous partner in overseeing Cinemark’s 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’s capable hands. I have full confidence in Sean’s 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.”
Lee Roy Mitchell, Cinemark’s Founder and Executive Chairman stated, “We 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’ 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’s background, business expertise and perspective as an ongoing member of our Board.”
Mitchell continued, “As 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’s 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.”