The boss of upmarket cinema firm Everyman Media Group has stepped down weeks after warning over sales and profits following poor box office trading.
Everyman said Alex Scrimgeour has been replaced on an interim basis by non-executive director Farah Golant, who will lead the company “with the support of the broader management team and board” until a permanent chief executive is appointed.
Mr Scrimgeour led the group for nearly five years, having taken the role in January 2021 after heading French restaurant chain Cote Brasserie since 2015.
His sudden departure follows a profit alert earlier in December as shares plunged to record lows.
The chain, which runs 49 cinemas across the UK, said at the time that box office performance in the fourth quarter of the year had been weaker than expected, while consumer spending was also under pressure.
It told shareholders it expected sales of at least £114.5 million for the year to January 1 and underlying earnings of at least £16.8 million – down from previous guidance for £121.6 million and £20 million respectively.
Chairman Philip Jacobson said: “We would like to thank Alex for his commitment to Everyman throughout his tenure.
“He has played a pivotal role in the team that successfully led the business through its recovery from Covid, more than doubling revenue and delivering significant Ebitda (earnings before interest, tax, depreciation and amortisation) growth.”
He added: “Farah has extensive experience across the global creative, entertainment and media industries, and a track record of accelerating growth and cultivating high-performance, results-oriented organisations.”
The firm said it had kicked off an external search for Mr Scrimgeour’s permanent replacement.
Interim boss Ms Golant has had a career spanning more than 30 years in media and creative industries, with former roles including president of Kyu Group, a collective of leading creative companies, chief executive of the Nike Foundation’s Girl Effect and boss of independent television, film and digital production and distribution group All3Media.
