Cineplex names ex-Landmark Cinemas head as CEO, considers sale

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsRetail & MarketingCineplex names ex-Landmark Cinemas head as CEO, considers saleThe theatre chain currently operates 168 cinemas and entertainment venues, employing over 10,000 people across CanadaLast updated 14 minutes ago Cineplex said Bill Walker is widely known throughout the Canadian exhibition industry and has developed long-standing relationships with industry partners across North America. Photo by Ed Kaiser/PostmediaCineplex Inc. has named Bill Walker, former Landmark Cinemas Canada lead, as its new chief executive, taking over the role from Ellis Jacob, as the company considers a potential sale.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe entertainment and media company announced Walker’s appointment, which comes to effect on Wednesday, following a succession process initiated since Jacob’s planned retirement announced last year.Concurrent Walker’s appointment, the company plans to conduct a comprehensive review of strategic alternatives in an effort to maximize shareholder value.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againCineplex said a range of alternatives will be considered, including, but not limited to, a potential sale of the company. Goldman Sachs and TD Securities will act as co-financial advisors.Jacob will serve as special advisor to the board until the end of the year to support the leadership transition and also assist with Cineplex’s strategic review process. He served as president and chief executive of Cineplex and its predecessor organizations for more than three decades, playing central role in building Cineplex into Canada’s leading entertainment and media company.“Cineplex has a strong market position… However, we believe the company’s current market valuation may not fully reflect the strength of its business and long-term prospects,” said Yaffe.The company said no decisions have been made regarding any particular strategic alternative, and no timetable has been established for completion of the strategic review. It also said there’s no assurance it will result in any transaction or agreement.Walker previously served as CEO of Landmark Cinemas, Canada’s second-largest theatre exhibitor. It operates as part of Belgium-based cinema company Kinepolis Group NV.During his nine-year tenure at Landmark, Walker played a key leadership role in the brand’s sale to Kinepolis in 2017 and subsequently continued to lead the Canadian business under Kinepolis’ public company ownership.“Given his deep understanding of the theatrical exhibition industry and proven leadership experience, the board is confident that Bill is exceptionally well positioned to lead Cineplex,” Cineplex board chair Phyllis Yaffe said in a press release.The company said Walker’s selection follows a succession process that included both an extensive global search and consideration of internal candidates.Cineplex said Walker is widely known throughout the Canadian exhibition industry and has developed long-standing relationships with exhibitors, distributors and business partners across North America.Before accepting the role, Walker served as CEO of Coast Appliances in Calgary until April.“I am honoured to join Cineplex at this important time in the Company’s history,” said Walker. “Having spent much of my career in the exhibition industry, I have great respect for what the Cineplex team has built.”Cineplex currently has a circuit of 168 movie theatres and location-based entertainment venues, employing over 10,000 people across Canada.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.