Here are just a few of the interesting executive changes making headlines over this past week:
Mark Zoradi Stars as Cinemark’s New CEO
This week Cinemark Holdings, the third-largest movie theater chain behind Regal Entertainment and AMC, named Mark Zoradi as its new CEO. Zoradi has spent most of his career on the production side of the movie business, most recently as COO at Dreamworks Animation SKG. He’s also served in executive roles at Disney and Dick Cook Studios. Zoradi succeeds 20-year Cinemark vet Tim Warner, who assumed the role of executive vice chairman. Cinemark operates more than 500 theaters with 5,700 screens across the US and Latin America.
Snapchat Snaps Up New Finance Chief
Messaging app startup Snapchat hired former Mattel executive Drew Vollero as its VP of finance and acting CFO. Vollero, who is new to the tech industry after having spent years in the consumer products and restaurant industries, was with Mattel for 15 years in roles including SVP corporate strategy, development, and investor relations and CFO of the toy company’s large Mattel Brands division; prior to Mattel, he worked for YUM! Brands’ restaurant chain Taco Bell. Although hired as the acting CFO, it’s expected Vollero will be named permanent CFO. As its finance chief, he would help prepare the four-year-old Snapchat for its planned IPO. The startup has recently expanded its app’s features beyond disappearing photo messaging and now earns most of its revenue from its Discover entertainment content and news aggregate product, launched earlier this year. The company has at least a $1 billion valuation that could go as high as $16 billion, according to sources.
Ashley Madison and CEO Noel Biderman Break Up
The controversy surrounding the recent hacking incident at Avid Life Media, which operates extramarital dating website Ashley Madison, intensified after the company’s founder and CEO resigned. Noel Biderman founded and led Avid Life Media and its now notorious website, which saw 37 million of its customers’ names and other personal information leaked to the public following a major hacking incident. Biderman’s resignation seemed almost inevitable. The hack shined a spotlight on the secretive company and touched off scandalous revelations about celebrity customers like reality TV’s self-proclaimed moralist Josh Duggar, reported suicides of distraught customers exposed by the hack, and allegations that Biderman used his own website to cheat on his wife. Avid Life Media’s senior management team will head the company until a successor is found. So far, it plans to continue operating the website.
Look for more Executives on the Move next week!