Cineworld emerged as expected from Chapter 11 bankruptcy protection on Monday (July 31) and named a new board of directors including former Warner Bros CEO Ann Sarnoff.
The move came after Friday’s suspension of the exhibitor’s shares on the London stock exchange and marks the completion of the beleaguered company’s financial restructuring. Cineworld’s chairman, Eric Foss, announced in a press release that Cineworld has a “transformed balance sheet and the right-sized capital structures” to be able to compete in the constantly changing movie theatre business. She held senior positions at BBC Studios, Viacom and other companies.
Cineworld’s other new board members are Eduardo Acuna, the company’s recently appointed new CEO; Patrick J Bartels, of Redan Advisors LLC; Stephen Joyce, former CEO of Dine Brands Global; Stefano Malfitano, a principal at Cyrus Capital Partners; and Blythe J McGarvie,
former CEO of LIF Group.
