Imax says CEO Richard Gelfond is taking a temporary medical leave to undergo treatment for pneumonia.
“He is receiving outstanding care and progressing in his recovery,” the film technologies company said in a statement on Monday. During his recovery, Gelfond, who has led the company since 2009 after first joining as co-CEO in 1993, will be absent from private or private events at Imax.
In his place, Imax senior execs will oversee day-to-day responsibilities alongside board chairman Darren Throop. “Imax is issuing this statement to provide transparency and ensure that there is no speculation arising out of Mr. Gelfond not appearing at the company’s upcoming events, including next week’s industry conferences,” the company added.
Gelfond more recently has been at the Imax helm as the company navigates a post-pandemic box office rebound for the Hollywood studios, his main movie suppliers, on the strength of an in-demand premium screen offering and Hollywood movies shot with proprietary Imax cameras.
To protect Gelfond’s privacy, Imax said it will not offer comment beyond appropriate updates. His current contract with Imax runs through to 2028.
“We have a strong, deeply experienced senior executive team who are fully engaged, providing regular updates to the board, and remain focused as always on the continued growth and success of Imax. We are all wishing Rich well and a full and speedy recovery,” Throop said in own statement.
