Cineplex names Bill Walker as new chief executive, launches strategic review

TORONTO - Cineplex Inc. has appointed former Landmark Cinemas CEO Bill Walker as its new chief executive, effective immediately. The movie theatre company announced that Ellis Jacob, who has been leading the organization, will be stepping down from his role. The strategic review undertaken by Cineplex's board will explore various alternatives, such as potential sales, in an effort to optimize the company's value and maximize returns for shareholders.

Board chair Phyllis Yaffe emphasized that Walker's appointment, coupled with the review, will provide leadership stability and strategic adaptability to ensure the company's full potential is realized. Yaffe also expressed confidence that the company's current market valuation may be undervaluing its business and long-term prospects.

Ellis Jacob is set to remain as a special adviser until the end of the year, collaborating with the board, management team, and the company's advisers on the strategic review.