Everyman Cinema Chain CEO Departs Following Profit Warning
Alex Scrimgeour resigned as the chief executive officer of Everyman Media Group, the cinema chain announced Monday. His departure occurred less than three weeks after the company issued a profit warning that led to a significant drop in share value.
The company stated that Scrimgeour's resignation was effective immediately. Farah Golant, a non-executive director, will take over as interim CEO.
The announcement follows a trading update on December 10, where Everyman Media Group lowered its revenue forecast for 2023 to £114.5 million and underlying earnings to at least £16.8 million. According to the BBC, the company cited weaker-than-expected trading as the reason for the revised forecast. The profit warning caused the company's shares to plummet by 20%.
Scrimgeour had been at the helm of Everyman Media Group since January 2021, after previously leading French restaurant group. Everyman operates 49 venues across the UK and is known for its luxury seating and food menus.
The company has not yet announced a timeline for finding a permanent replacement for Scrimgeour.
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