Having recently been diagnosed with esophageal cancer, AMC Entertainment chairman and CEO Stanley Durwood has given expanded duties to his two top lieutenants. Durwood is in his 70s.
Peter Brown has been elected president of AMC Entertainment, and Philip Singleton has been elected president of American Multi-Cinema Inc., the company’s main subsidiary.Both will continue to report to Durwood.
Brown, who joined the company in 1991, will continue as chief financial officer of all the company’s subsidiaries. Singleton, who began with AMC in 1974, will supervise AMC’s film marketing efforts and will direct international theater operations through AMC Entertainment Intl.
Durwood owns 40% of the company’s common stock and 100% of the supervoting stock through his family company, Durwood Inc. In May last year, Durwood commenced a plan to convert some of his supervoting stock to common shares and distribute those to his children. The Kansas City-based company started in 1920 when Durwood’s father acquired a single movie house.
AMC has been aggressively expanding its exhibition business in foreign territories with multiscreen sites in Portu-gal and Mexico. It now boasts 1,932 screens, or 231 theaters across the country and overseas.
Durwood said in a statement: “Both Peter and Phil are highly capable executives who, since 1991, have together helped guide the company into one of the most dynamic periods in history. I am confident that with our depth and abundance of management talent, the company and all of its business units will continue to flourish.”