Imax Corp.'s board of directors has extended CEO Richard L. Gelfond's contract for three years, to the end of 2019.The giant-screen specialist made the disclosure Monday in an 8k filing with the U.S. Securities and Exchange Commission. The board said it entered into the employment agreement on Nov. 8, replacing and superseding Gelfond's prior three-year employment agreement, which would have expired on Dec. 31. Gelfond has been the CEO since 2009.Gelfond will receive an annual base salary of $1.2 million and...
In his 28th year as Imax chief, Gelfond expanded the giant-screen exhibitor’s global footprint to 1,700 theaters across 87 territories, with new agreements in key markets including China, Japan and the Middle East that were projected to result in 80-100 new theaters by the end of 2022. At the same time, he beefed up the company’s foreign-language content efforts, helping to launch India’s “RRR” and Japan’s “Dragon Ball Super: Super Hero” with Imax runs. He, along with Megan Colligan, continued to grow the Imax Live initiative with concert simulcasts including “Brandi Carlile: In the Canyon Haze — Live From Laurel Canyon,” as well as filmmaker and cast Q&As for screenings (“Nope”) and more installations of high-speed fiber-optic cables. In September, Imax acquired Canadian streaming-tech company SSIMWAVE and Gelfond’s contract was extended through 2025.