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AMC names CEO Adam Aron as chairman

By Shubhangi on Jul 22, 2021 | 03:32 AM IST

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AMC Entertainment Holdings Inc announced on Wednesday Adam Aron, the Chief Executive Officer, would be the chairman of the company.

Aron, who has been the CEO, president and member of the theatre operator’s board since 2016, has led AMC to become the largest cinema operator in the world. AMC was one of the stocks which soared in a Reddit-driven frenzy in the beginning of the year.

The company said the Ambassador Philip Lader will be the  lead director of AMC.

Shares of the company fell 2.8% in premarket trading on Wednesday.

In a similar move, Microsoft also named CEO Satya Nadella as chairman of its board last month.

According to data from shareholder advisory firm Institutional Shareholder Services Inc (ISS) ESG, 59% of S&P companies have a separate chairman and CEO as of 2021, compared with 37% just ten years ago, reported Reuters.

(With inputs from Reuters)

Picture Credits: Reuters

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