Adam Aron, president and CEO of AMC since 2016, has been named Chairman of the Board of the AMC Entertainment Board of Directors. Aron will retain his position of CEO. In addition, Philip Lader has been named the Lead Director of the AMC Entertainment Board of Directors.
This shortly follows the departure of non-executive Chairman of the Board, Lin Zhang, and Mao Jun (John) Zeng, both of Wanda, from AMC’s Board of Directors following Wanda’s sale of most of its AMC shares.
Lader, now the Lead Director of AMC, joined the company’s Board as an independent director in July 2019. He is a Senior Advisor to Morgan Stanley Institutional Securities and has served as the U.S. Ambassador to the Court of St. James’s and in President Clinton’s Cabinet as Administrator of the U.S. Small Business Administration, along with having been White House Deputy Chief of Staff, Assistant to the President, and Deputy Director of the Office of Management & Budget. Other past positions include Chairman of WPP plc (which includes Ogilvy & Mather, J. Walter Thompson, Young & Rubicam, Grey, Group M, Kantar, Hill & Knowlton, and Burson-Marsteller, among other companies in 124 countries), EVP of Sir James Goldsmith’s US holdings, and President of Sea Pines Company. He has also served on the boards of Lloyds of London, Marathon Oil, AES, Songbird (Canary Wharf), and RAND Corporation.
Regarding the announcements, Adam Aron commented: “First, I want to express my deepest and sincerest thanks to Lin Zhang and Mao Jun Zeng for their contributions to AMC’s success and for their many years of service as members of AMC’s Board of Directors. Their support, guidance and true friendship has been extremely important to me. Additionally, I am grateful to the full AMC Board for their confidence in my continuing leadership. And it goes without saying that I eagerly look forward to working with Phil Lader in his new role as Lead Director of the Board, as well as with all of our distinguished and talented Board members.”
Added Lader commented: “Adam’s leadership and my board colleagues’ commitment to AMC’s shareowners, guests and employees demonstrate our fundamental belief in movie theaters’ incalculable contributions to international commerce, culture and understanding. As an avid movie-goer and film industry enthusiast as well as corporate director, I look forward to AMC’s continued resilience and a bright future for movie-goers.”