Moshe ‘Mooky’ Greidinger and his brother Israel Greidinger have resigned from their roles with Cineworld Group, bringing to an end a nine-year association with the exhibition chain.
On Monday, July 31, Mooky and Israel resigned as directors of Cineworld Cinemas Holdings Ltd, Cineworld Cinemas Ltd, Cineworld Cinema Properties Ltd, Cine-UK Ltd and Picturehouse Cinemas Ltd, according to Companies House records.
Mooky had been CEO of Cineworld since May 2014; but, alongside Israel as deputy CEO and chief commercial officer Renana Teperberg, secured a combined payout last month approaching $35m as part of their departure from the company.
The Cineworld Group then appointed Eduardo Acuna, president of Cinepolis, as its new CEO, leading the group’s parent company NewCo. Cineworld emerged from Chapter 11 bankruptcy protection on Monday, July 31, and appointed a new board of directors including former Warner Bros CEO Ann Sarnoff.
Mooky Greidinger had joined the Cineworld board of directors as CEO in May 2014, having previously been CEO of Cinema City International, a family cinema business originated by his grandfather, also Moshe Greidinger.
Mooky and Israel owned 29% of Cineworld by January 2020. However, the pandemic caused a significant revenue hit to the company, which applied for bankruptcy in a US court in September 2022.
Cineworld celebrated its busiest week by number of admissions last week, welcoming over 1.7m guests across the first week of Barbenheimer, the dual release of Greta Gerwig’s Barbie and Christopher Nolan’s Oppenheimer.
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