CENTENNIAL, Colo. -- (Business Wire)
National CineMedia, Inc. (NASDAQ: NCMI) (the “Company”), the managing
member and owner of 48.6% of National CineMedia, LLC, announced today
that its Executive Vice President and Chief Financial Officer, Gary
Ferrera, is leaving the Company to pursue another opportunity in an
industry unrelated to the business of the Company.
Mr. Ferrera’s resignation will be effective March 1, 2013, subsequent to
filing of the Company’s Form 10-K for its 2012 fiscal year. The Company
is initiating a search for Mr. Ferrera’s replacement immediately and
expects to have a new chief financial officer in place prior to or
shortly after Mr Ferrera’s departure.
Kurt Hall, the Company’s chairman, president and chief executive
officer, said, “Gary has played a key leadership role within the Company
since just prior to our initial public offering in 2007.” Mr. Hall went
on to say, “Gary has created a strong financial team and was
instrumental in transitioning our capital structure to one that will
serve our Company very well for many years to come. On behalf of the
Company’s Board of Directors and the management team and Company staff,
we thank Gary for all of his hard work, friendship and many
contributions to the Company, and wish him continued business and
personal success in the future.”
“It has been an honor and a privilege to work with the outstanding team
at NCM,” said Mr. Ferrera. “Though I have decided that now is the time
for me to take on a new challenge, I could not be more confident in the
team I leave behind and the opportunities that lie ahead for NCM.”
About National CineMedia (NCM)
operates NCM Media Networks, a leading integrated media company reaching
U.S. consumers in movie theaters, online and through mobile technology.
Cinema Network and NCM
Fathom Events present cinema advertising and events across the
nation’s largest digital
in-theater network, comprised of theaters owned by AMC Entertainment
Inc., Cinemark Holdings, Inc. (NYSE: CNK), Regal Entertainment Group
(NYSE: RGC) and other leading regional theater circuits. NCM’s theater
advertising network covers 183 Designated Market Areas® (49 of the top
50) and includes over 19,300 screens (over 18,400 digital). During 2011,
approximately 680 million patrons (on an annualized basis) attended
movies shown in theaters in which NCM currently has exclusive, cinema
advertising agreements in place. The NCM
Fathom Events live digital broadcast network (“DBN”) is comprised of
over 720 locations in 170 Designated Market Areas® (including all of the
top 50). The NCM
Interactive Network offers 360-degree integrated marketing
opportunities in combination with cinema, encompassing 41
entertainment-related websites, online widgets and mobile applications.
National CineMedia, Inc. (NASDAQ: NCMI) owns a 48.6% interest in and is
the managing member of National CineMedia LLC. For more information,
Forward Looking Statements
This press release contains various forward-looking statements that
reflect management’s current expectations or beliefs regarding future
events. Investors are cautioned that reliance on these forward-looking
statements involves risks and uncertainties. Although the Company
believes that the assumptions used in the forward looking statements are
reasonable, any of these assumptions could prove to be inaccurate and,
as a result, actual results could differ materially from those expressed
or implied in the forward looking statements.
National CineMedia, Inc.
Source: National CineMedia, Inc.