Cineworld founder and CEO bids farewell

28th Feb 2014 09:28

The Chief Executive of Cineworld is bringing down the curtain on his career at the cinema chain following its merger with Central European cinema operator Global City Holdings (GCH).Cineworld said on Friday that Stephen Wiener, who founded the company in 1995, had stepped down from his role, but would stay employed by the company until the end of next month.The Chief Executive of GCH, Moshe (Mooky) Greidinger, has replaced Wiener as Chief Executive and has been appointed as an Executive Director of the company. He also now holds a non-executive role at GCH.Israel Greidinger, the former finance chief of GCH, becomes Cineworld's Chief Operating Officer.Cineworld, which unveiled the merger with GCH last month, completed it yesterday.GCH, which gets a 24.9% stake in the combined group after a rights issue to raise about £110m, has cinemas in seven countries across Central and Eastern Europe and Israel.The enlarged group will have 201 sites and 1,852 fully digital screens. Shares in Cineworld rose 0.25p to 317p in mid-morning trading in London.PW