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AMC Leisure’s (NYSE:AMC) board has tapped Denise “Dee” Clark and Keri Putnam to function administrators – and as anticipated, Silver Lake’s Lee Wittlinger is exiting.
Clark and Putnam will start serving Jan. 1 as Class III administrators, with a time period to run out on the 2023 annual assembly, at which they may stand for re-election.
In the meantime, non-public funding agency Silver Lake offered its fairness stake in AMC in January of 2021, and as is customary with an exit, Managing Director Lee Wittlinger will resign his board seat as of year-end.
Putnam was beforehand CEO of the Sundance Institute, runners of the Sundance movie Pageant, and this yr launched manufacturing agency Putnam Photos.
Clark has led technical teams for quite a lot of shopper product firms, together with Estée Lauder, Hasbro, Mattel, Warner Music, MCI Systemhouse and Apple Pc.
Their additions imply that three of AMC’s 9 administrators will likely be feminine, vs. considered one of eight at present.
AMC inventory completed the day 7.8% greater.
Earlier, Wedbush reiterated an Underperform score on AMC inventory (AMC), saying it was nonetheless overpriced regardless of measures to handle its debt.
