- Everyman said CEO Alex Scrimgeour has stepped down with immediate effect
- Non-executive director Farah Golant will serve as interim chief executive as the board launches an external search
- The leadership change follows a December cut to the company’s revenue and EBITDA outlook after a weaker UK box office
Everyman Media Group said on Monday its chief executive, Alex Scrimgeour, has stepped down with immediate effect and non-executive director Farah Golant will take over as interim CEO.
The move lands weeks after the AIM-listed — London’s junior stock market — cinema operator lowered forecasts, pointing to a softer UK box office in the final quarter and pressure on consumer spending.
Investors have punished the stock through the year. Everyman shares were marginally lower in London trading and are down around 48% year-to-date, according to an Alliance News market update.
Everyman said it has begun an external search process for a permanent replacement and will update shareholders “as soon as practicable.” Investegate
“We would like to thank Alex for his commitment to Everyman throughout his tenure,” Philip Jacobson, the company’s non-executive chairman, said. Investegate
Golant will work with the broader management team and the board during the transition, the company said, describing her as having experience across the global creative, entertainment and media industries.
In a trading update earlier this month, Everyman said it expected group revenue of no less than 114.5 million pounds for the year to Jan. 1, down from prior market expectations.
It forecast EBITDA — earnings before interest, tax, depreciation and amortisation, a common measure of operating profit — of no less than 16.8 million pounds, versus prior consensus expectations of 19.9 million pounds.
Everyman also said net debt was expected to be about 24.0 million pounds at the period end, up from 18.1 million pounds a year earlier.
The company said it expects to release another trading update for the year and revised guidance on its outlook in January 2026.
Scrimgeour took the top job in January 2021 after running French restaurant chain Côte Brasserie, the London Standard reported.
The Standard also reported that Everyman’s finance director resigned on Dec. 15, adding to the management changes in December.
AJ Bell analyst Dan Coatsworth said larger rivals such as Vue and Odeon have copied elements of Everyman’s offer by rolling out reclining seats and bars, narrowing the premium chain’s differentiation.
Everyman describes itself as the UK’s fourth-largest cinema business by number of venues and says its model pairs film screenings with in-house food and drink and curated programming.
