Cinepolis exec Eduardo Acuna to become Cineworld CEO (updated)
13/07/2023 12:32
(Adds background on bankruptcy proceedings in paragraph 2 and
3)
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.
Cineworld, the world's second-largest movie theatre chain
operator, appointed former Pepsi PEP.O executive Eric Foss as
its new chairman in late June, after filing for administration
in Britain as part of a restructuring plan to reduce its massive
debt.
The plan was also approved in the United States, which
involves the release of about $4.53 billion of the group's debt,
a rights offering to raise gross proceeds of $800 million and a
provision of $1.46 billion in new debt financing.
Cineworld filed for U.S. bankruptcy protection in September.
(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini
Ganguli)
((Eva.Mathews@thomsonreuters.com;))