The CEO of Fathom Entertainment, the specialty distributor jointly owned by major theater chains AMC, Cinemark and Regal, is retiring after nine years in the role.
“Now is the right time for me to begin the process of stepping down from a full-time executive position and transitioning into retirement, while also being an appropriate inflection point in Fathom Entertainment’s history to find its next leader,” CEO Ray Knott said in a statement on Wednesday.
Having headed up the specialist theatrical experiences distributor for nearly a decade, the CEO is expected to be involved in the search for his replacement now underway. He joined Fathom as CEO in 2017 after serving on the company’s board of directors while serving as senior vice president of commercial relations at then-Regal Entertainment Group, now Regal Cineworld.
Colorado-based Fathom Entertainment is owned in three ways by major movie chains. The company’s theatrical content includes one-off cinematic events, from live broadcasts of operas, plays and live concert visuals to anniversary re-releases of classic Hollywood films.
“Ray Nutt’s long leadership of Fathom Entertainment has delivered meaningful benefits to AMC, the broader theatrical exhibition industry and, most importantly, to moviegoers across the country,” Adam Aron, chairman and CEO of AMC Entertainment, said in a statement. “Under his direction, Fathom has strengthened its position as a leading force in alternative theatrical experiences, expanding the scope of content available to AMC guests.”
Eduardo Acuna, CEO of Regal Cineworld, and Sean Gamble, President and CEO of Cinemark, also praised Nutt with their own remarks. Among the CEO’s accomplishments is the rebranding of Fathom Events, an event-based distributor of movie theaters, to Fathom Entertainment, the U.S. theatrical market’s leading specialty distributor of event films.
