IMAX Corporation announced that Bradley Wechsler has notified the Company he will step down as Chairman of the Board of IMAX at the Company’s annual shareholders meeting (AGM) on June 9, 2021, after nearly 30 years of service to the Company.
IMAX’s Board of Directors will select a new Chairman to be announced shortly after the Company’s AGM, the statement said.
Wechsler has been Chairman or Co-Chairman of IMAX’s board since 1994 when he and Richard L. Gelfond acquired the Company. Wechsler and Gelfond served as Co-Chief Executive Officers from 1996 to 2009 when Gelfond took on the role of sole CEO.
Commenting on the resignation, Gelfond said: “Brad and I have had an outstanding working relationship since we acquired IMAX together nearly 30 years ago, during which time IMAX has been transformed into one of the leading entertainment technology companies in the world. I thank him for his dedication, wisdom, insight, support and guidance. I know all of IMAX’s employees past and present recognize and appreciate his many contributions. As he leaves his role, I am proud to have partnered with him and to call him my friend.”
Wechsler added, “It’s been almost thirty years since Rich and I acquired IMAX and we’ve seen a tsunami of changes over the years. One thing that has remained constant though is the power of The IMAX Experience® and the power of the IMAX brand. I’m proud to have been part of building this great company and wish the Company and Rich continued success in growing this unique franchise.”
Wechsler is currently CEO and Managing Partner of Elysium LLC. He serves on the boards of Apollo Investment Corporation, NYU Langone Hospital and Medical Center and Math for America. Wechsler served on the board of Assay Healthcare Solutions from 2010-2014 and currently serves on several private boards. Wechsler is also a member of the Motion Picture Academy of Arts & Sciences.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2020, there were 1,650 IMAX theater systems (1,562 commercial multiplexes, 12 commercial destinations, 76 institutional) operating in 84 countries and territories.
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