AMC Theatres CEO Gerry Lopez to Step Down

Eric Charbonneau/Invision for Open Road Films/AP Images
Outgoing AMC Theatres CEO Gerry Lopez

The exhibitor's board names CFO Craig Ramsey interim president and CEO and Lopez says he plans to take on a new opportunity in a different industry.

AMC Theatres said on Tuesday that president and CEO Gerry Lopez will step down on Aug. 6.

The exhibitor's board has named CFO Craig Ramsey interim president and CEO, it said. He will take over effective Aug. 7 "to ensure a smooth transition," AMC said.

Ramsey has served the second-largest U.S. exhibitor for more than 20 years, the last 15 years of which have been in senior and executive leadership roles. He most recently led AMC’s IPO in Dec. 2013.

The board has formed a search committee to lead the search for a permanent CEO, AMC said.

"I now plan to bring my passion for strategic refocus to another industry, where guest focus and strategic redeployment are equally important," Lopez said in a statement without providing further details.

“AMC’s future is on very solid ground thanks in great part to Gerry’s vision and passion,” said Ramsey. “He has created an enduring, guest-centric culture capable of driving results and innovation for many years to come. I look forward to continuing to execute our strategy and facilitating a seamless transition as the board conducts its search.”

“AMC is an amazing company with a highly talented, creative and dedicated family of associates," Lopez said. "It has been the thrill of a lifetime to lead this group, and I am sincerely and deeply grateful for their support, but also incredibly proud of our accomplishments."

He added: “I came to AMC over six years ago to strategically transform the company by developing, testing and implementing a differentiated growth strategy. As a team, we have very successfully done exactly that. Shareholder value has grown dramatically and guest satisfaction scores are at their highest level in five years. Simply put, the five action fronts in our guest-experience leadership strategy are working. The AMC I leave behind is in good hands and in great shape. I believe the strategic and financial foundation is in place for continued success well into the future.”

Twitter: @georgszalai