Cinemark, the nation’s third-largest theater chain, has tapped Tim Warner to succeed Alan Stock as CEO of the company.

News came Wednesday from Cinemark chairman Lee Roy Mitchell.

Stock, who has served as CEO of Cinemark since December 2006, plans to retire. He’ll serve in a transitional role through May 1 before taking on an advisory role as a consultant for the company for two years.

“I am proud to have contributed to the company’s growth during my 26-year tenure,” Stock said in a statement. “I look forward to working with Tim and the management team to ensure that we effect a seamless transition and continued success for the company.”

Warner has been with Cinemark for 16 years, serving most recently as prexy and chief operating officer since 2006.

“Throughout our careers at Cinemark, Alan and I have worked closely to enhance the theatergoing experience while driving domestic and international growth,” Warner said. “We thank Alan for his outstanding contributions to the company and for his initiatives to promote high standards across the industry and strong relations among its various constituents.”

Cinemark operates 448 theaters with 5,096 screens in the U.S. and Latin America.