Cineworld CFO Philip Bowcock Resigns, Looking For Successor

LONDON (Alliance News) - Cineworld Group PLC said Chief Financial Officer Philip Bowcock is leaving the business on Tuesday to pursue other interests after three and a half years in the role, and it is beginning an immediate search for a successor.

Deputy Chief Executive Israel Greidinger will assume the responsibilities of CFO on an interim basis until a permanent successor is appointed.

"I would like to thank Philip for his contribution as CFO of Cineworld and on the group's board. As leader of the finance function through a sustained period of strong growth he has played an important part in the development of Cineworld to become one of Europe's leading cinema groups, not least by playing a significant role in the combination with Cinema City and the subsequent integration of the two businesses. We wish him every success in his next challenge," Chairman Tony Bloom said in a statement.

In addition, Fiona Smith, who joined the company in the role of in-house counsel in 2011, has been appointed as company secretary and general counsel, effective from June 30. She will replace Richard Ray who is stepping down from the position.

Cineworld added that the company continues to trade in line with its expectations since its recent trading update last month.

Shares in Cineworld were trading down 2.1% at 498.50 pence Tuesday morning.

By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews

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