NEW YORK — AMC Entertainment president Peter Brown was elevated to the new post of co-chairman, serving alongside Stan Durwood, who will remain CEO and co-chairman, the company said Friday.
AMC said in a statement Brown “will oversee all company matters” with Durwood.
“Peter and I have worked very effectively for some time now. This is a natural move which formally recognizes the successful management partnership we have already been enjoying,” Durwood said in a statement.
Phil Singleton continues to serve as president of American Multi-Cinema, the biggest operating subsidiary of AMC.
Wall Street analysts had mixed reaction on the significance of Brown’s promotion. One analyst noted that it was not surprising, given Durwood’s age of 77, that the CEO would promote an exec to help him with day-to-day management.