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Top related persons:
Mooky Greidinger - 3 Greidinger - 3 Israel Greidinger - 3 Cineworld - 2 Nisan Cohen - 2 Eduardo Acuna - 1 Acuna - 1 Eric Foss - 1
Top related locs:
British Bengaluru London Britain U.S
Top related orgs:
Financial Times - 3 Cineworld - 2 Thomson - 2 U.S - 1 Pepsi - 1 Cinema City - 1 Regal Entertainment - 1 McKinsey - 1

Search resuls for: "Greidinger"


9 mentions found


☆ Cinepolis exec Eduardo Acuna to become Cineworld CEO
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
July 13 (Reuters) - Cineworld Group (CINE.L) said on Thursday Eduardo Acuna, who runs the Americas operations of Mexican theatre operator Cinepolis, will become its CEO when the company emerges from bankruptcy proceedings, expected this month. The group, which filed for U.S. bankruptcy protection in September, said lenders had agreed to appoint Acuna as CEO of the newly formed parent company after its restructuring plan becomes effective. Cineworld had faced discontent from shareholders over executive pay in 2021, including bonuses to the CEO and his brother and deputy chief Israel Greidinger. Acuna, who has been with Cinepolis since 2005, previously held roles at McKinsey and Co and Goldman Sachs. Cineworld added that it "understands that a selection process for the remaining members of the new company's board is ongoing".
Persons: Eduardo Acuna, Acuna, Eric Foss, Mooky Greidinger, Greidinger, Cineworld, Israel Greidinger, Goldman Sachs, Eva Mathews, Yadarisa, Shinjini Organizations: Cineworld, U.S, Pepsi, Cinema City, Regal Entertainment, Financial Times, McKinsey, Thomson Locations: London, Britain, U.S, British, Bengaluru
☆ The bosses of the Regal Cinemas owner are set to depart with $35 million after Cineworld emerges from Chapter 11
  + stars: | 2023-06-17 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +3 min
The bosses of Cineworld, which owns Regal, will collect $35 million, the Financial Times reported. A source told Insider the payout is intended to help smooth CEO Mooky Greidinger's departure. UK-based Cineworld bought Regal, the second-biggest US movie theater chain, for $3.6 billion in 2017. Another source told the Financial Times the expected departure of the Greidingers was still a form of "comeuppance" despite the payout. A search is being conducted to identify a new CEO, the source told Insider.
Persons: Cineworld, Mooky Greidinger, Greidinger, Israel Greidinger, Nisan Cohen, Renana Teperberg Organizations: Financial Times, Morning, Regal, Canada's Cineplex, Eastgate, Cineworld
☆ Cineworld CEO and top execs secure near $35 million exit payout, Financial Times reports
  + stars: | 2023-06-16 | by ( ) www.reuters.com   time to read: +1 min
June 16 (Reuters) - Cineworld's (CINE.L) CEO Mooky Greidinger and his top management team will be paid up to $35 million combined to leave the British cinema operator after it emerges from Chapter 11 proceedings next month, the Financial Times reported on Friday. The lenders have committed to pay Greidinger, his brother and deputy CEO, Israel Greidinger, Chief Financial Officer Nisan Cohen and Chief Commercial Officer Renana Teperberg between $30 million and $35 million in cash within a year of their exit, the FT added, citing people familiar with the matter. Cineworld declined to comment on the FT report. The company had filed for bankruptcy protection in September hoping to restructure its massive debt. Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
Persons: Mooky Greidinger, Greidinger, Israel Greidinger, Nisan Cohen, Radhika Anilkumar, Savio D'Souza Organizations: Financial Times, AMC Entertainment, Thomson Locations: British, Bengaluru
☆ UK's Cineworld to terminate sale process for US, UK businesses
  + stars: | 2023-04-03 | by ( ) www.reuters.com   time to read: +1 min
April 3 (Reuters) - Movie chain operator Cineworld Group (CINE.L) said on Monday it will terminate the sale process for its U.S., UK and Ireland businesses after failing to find an all-cash buyer, while also reaching a conditional deal with lenders to exit bankruptcy. The global company, which is under Chapter 11 bankruptcy protection, said it will continue to consider proposals for the sale of its 'Rest of World' business, comprising its operations outside the U.S., UK and Ireland. A court filing on Sunday showed Cineworld plans to raise $2.26 billion to exit bankruptcy proceedings in the first half of 2023. "This agreement with our lenders represents a 'vote-of-confidence' in our business and significantly advances Cineworld towards achieving its long-term strategy in a changing entertainment environment," CEO Mooky Greidinger said in a statement. Reporting by Aby Jose Koilparambil and Yadarisa Shabong in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.
☆ Cineworld drops major sale plan and proposes new debt deal
  + stars: | 2023-04-03 | by ( ) www.cnbc.com   time to read: +2 min
Cineworld, which operates 9,000 theatres in 10 countries, has warned that a lack of blockbusters is hurting admissions. Cineworld has scrapped plans to sell its U.S., UK and Ireland businesses after failing to find a buyer, the cinema chain operator said on Monday, as it proposed a new debt restructuring plan. Under a new tentative deal with lenders it said it aimed to reduce debt by about $4.53 billion, mainly through creditors getting equity in a reorganized group. It had net debt of $8.81 billion including lease liabilities as of June 2022. The company reiterated that shareholders will be wiped out under its restructuring plans.
☆ Cineworld shares tank after Regal Cinemas owner ditches plans to sell US and UK businesses
  + stars: | 2023-04-03 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
London CNN —Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help it exit bankruptcy. Cineworld — which, like many cinema operators, was hit hard by the pandemic — filed for Chapter 11 bankruptcy protection in September. In addition to the United States, the United Kingdom and Ireland, Cineworld operates cinemas in Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel. After two rounds of closures in the United States, around 500 Cineworld theaters remain across the country.
☆ Cineworld lenders looking to oust CEO in management shake-up - FT
  + stars: | 2023-03-31 | by ( ) www.reuters.com   time to read: +1 min
March 31 (Reuters) - The ex-CFO of Regal Cinemas is the leading candidate to replace Cineworld Group Plc (CINE.L) CEO Mooky Greidinger as lenders of the ailing cinema chain plot a management shake-up following bankruptcy proceedings, the Financial Times reported on Friday. A potential management reshuffle would probably mean Greidinger, Cineworld's CEO since 2014, would be forced to relinquish control of his third-generation family business, the report said, citing several people close to the company's top management. David Ownby was Regal's CFO for nine years until 2018 when the company was bought by Cineworld. He has been serving as an adviser to Cineworld's highest priority creditors, which are steering the bankruptcy process, the report said. Reporting by Aby Jose Koilparambil and Anchal Rana in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ Cineworld creditors plan management shuffle amid takeover interest - Bloomberg News
  + stars: | 2023-03-27 | by ( ) www.reuters.com   time to read: +1 min
March 27 (Reuters) - Creditors of British cinema operator Cineworld Group PLC (CINE.L) are outlining plans for a new board and executive team after nine years under CEO Mooky Greidinger and his deputy Israel Greidinger, Bloomberg News reported on Monday. The Greidinger brothers are set to be replaced, but creditors have considered providing them compensation and a transitional role during the handover period, the report added, citing people familiar with the matter. Earlier in the day, Sky News reported that private equity firm CVC Capital Partners had proposed a takeover of parts of Cineworld, within days of a similar offer from activist investor Elliott Management. Cineworld said in February it may emerge from Chapter 11 bankruptcy protection in the first half of this year. ($1 = 0.8148 pounds)Reporting by Rishabh Jaiswal and Sinchita Mitra in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
☆ Cineworld gets no offer for whole company, warns on shareholders' equity
  + stars: | 2023-02-24 | by ( Yadarisa Shabong | ) www.reuters.com   time to read: +3 min
It said it had received initial proposals from a number of counterparties but none offered an all-cash bid for the entire company. Cineworld said talks with certain stakeholders about a possible plan of reorganisation were ongoing in parallel with a potential sale of assets, but neither path would see shareholders recover their equity interest. Cineworld had a net debt of $8.81 billion as of June 30, 2022, including lease liabilities, while its cash reserves had dwindled to $131 million. Larger rival AMC Entertainment Holdings (AMC.N) in December had said its talks to buy some theatres owned by Cineworld had fallen through. Sky News reported earlier this month that London-based cinema operator Vue International, with support from two funds, would be among the bidders for Cineworld.
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