The CEO of Fathom Entertainment, the specialty distributor jointly owned by major theater chains AMC, Cinemark and Regal, is retiring after a nine-year run in the role.
“Now is the right time for me to begin the process of stepping down from a full-time executive role and transition to retirement, while also an opportune inflection point in the history of Fathom Entertainment to find its next leader,” CEO Ray Nutt said in a statement on Wednesday.
Having headed up the specialty distributor of niche theatrical experiences for nearly a decade, the exec is expected to participate in the search for his replacement now underway. He joined Fathom as CEO in 2017 after sitting on the company’s board of directors while serving as senior vp of business relations at then Regal Entertainment Group, now Regal Cineworld.
Colorado-based Fathom Entertainment is owned three ways by the major cinema chains. The company’s theatrical content includes one-off cinematic events, from live broadcasts of opera, stage plays and live concert pics to anniversary rereleases of classic Hollywood films.
Adam Aron, chairman and CEO of AMC Entertainment, in a statement said: “Ray Nutt’s longtime leadership of Fathom Entertainment has delivered meaningful benefits to AMC, the broader theatrical exhibition industry, and, most importantly, moviegoers nationwide. Under his direction, Fathom has further strengthened its position as the leading force in alternative theatrical experiences, broadening the scope of content available to AMC guests.”
Eduardo Acuna, CEO of Regal Cineworld, and Sean Gamble, president and CEO of Cinemark, also paid tribute to Nutt with their own statements. Among the exec’s milestones was rebranding Fathom Events, an events-based distributor for cinemas, as Fathom Entertainment, a leading specialty distributor in the U.S. theatrical marketplace for event movies.
