Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Cinepolis exec seen as CEO candidate for Cineworld – Sky News

by Staff GBAF Publications Ltd
0 comment

Cinepolis exec seen as CEO candidate for Cineworld – Sky News

(Reuters) – Cineworld Group is looking at Eduardo Acuna, who runs the Americas operations of Mexico’s Cinepolis, as a potential candidate to take the helm at the embattled British cinema chain operator when it emerges from bankruptcy proceedings, Sky News reported on Monday.

It is not clear whether Acuna was formally in the frame to take the job or how quickly Cineworld’s new owners were seeking to make an appointment, the report said.

Cineworld declined to comment on the Sky News report, while Cinepolis did not immediately respond to a request for comment.

The Financial Times said in June that Cineworld CEO Mooky Greidinger as well as his top management team will be paid up to $35 million combined to leave the company after it emerges from Chapter 11 proceedings.

The cinema chain operator, which appointed former Pepsi executive Eric Foss as its new chairman last week, said it is filing for administration in Britain and suspend trading on the London Stock Exchange as part of a restructuring plan to reduce its massive debt.

Cineworld had its debt restructuring plan approved in the United States as well, which involves the release of about $4.53 billion of the group’s debt, a rights offering to raise gross proceeds of $800 million and the provision of $1.46 billion in new debt financing.

 

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Shailesh Kuber)