Cineplex says it is exploring options to increase shareholder value, including a possible sale of the company, as it appoints former Landmark Cinemas head Bill Walker as its new CEO.
The board has launched a strategic review and hired Goldman Sachs and TD Securities as financial advisers to evaluate its options.
Cineplex is Canada’s largest movie theatre chain, with nearly 170 theatres, more than 1,600 screens and over 10,000 employees.
Former CEO Ellis Jacob will remain as a special adviser during the review. Board chair Phyllis Yaffe said the company’s market value may not reflect the strength of its business, while Walker said his focus will remain on improving operations and customer experience regardless of the review’s outcome.
