Cinedigm General Counsel and Cinema Equipment Business Operating Head Gary Loffredo Appointed Chief Operating Officer
February 14 2019 - 8:15AM
Cinedigm (NASDAQ: CIDM) announced today that Gary Loffredo has been
appointed to the newly created role of Chief Operating
Officer. In addition, Loffredo will retain his roles as
General Counsel and President of Digital Cinema. Loffredo
will continue reporting to Chris McGurk, Chairman of the Board and
Chief Executive Officer, and will be responsible for the day-to-day
management of legal, finance, human resources, business
development, IT and strategic planning. This move is also
intended to streamline the Company’s corporate structure and
enhance management effectiveness and coordination.
Loffredo has been a key management figure with Cinedigm since
2000, working in a variety of roles including Senior Vice President
– Business Affairs, General Counsel, Secretary, and Interim
Co-Chief Executive Officer, and serving on the Board of Directors.
He is also our Corporate Secretary. Loffredo was
previously Vice President, General Counsel and Secretary of
Cablevision Cinemas, and an attorney at Kelley Drye & Warren
LLP.
In the Finance area, CFO Jeffrey Edell will be leaving the
Company to pursue outside interests. The company has no plans to
replace the CFO position. The key executives on the finance team,
Samina Merchant/VP Financial Reporting, Chris Panagiotakos/VP
Controller, Chris Pak/VP FP&A and Business Development, and
Mellonie Suen/Executive Director, Accounting and Royalties, will
now report directly to Loffredo.
Ron Chez, Strategic Advisor to the Company, will continue to
work closely with Loffredo and McGurk across all key corporate
management areas.
“Gary’s long track record, significant industry experience and
numerous management roles within Cinedigm over the last 18 years
give me complete confidence in his ability to manage and grow all
aspects of our operations as COO,” said McGurk. “This
appointment will streamline Cinedigm’s corporate structure, further
improve operating efficiencies and corporate coordination and
leverage Gary’s unique experience with Cinedigm now that we have
repositioned ourselves as a leading OTT streaming
company.”
McGurk continued, “Gary’s recent focus on business development
and acquisitions, combined with the wind down of our legacy Digital
Cinema, presented the perfect opportunity for us to add this
expanded role to his responsibilities We also want to thank Jeff
Edell for his years of service to Cinedigm and wish him well with
his future endeavors.”
“I am very pleased to take on the role of COO,” said
Loffredo. “We have already seen success as we transform
Cinedigm into a leading streaming and OTT company, and under the
leadership of Chris and the rest of our management team, I am
excited about the future of Cinedigm.”
ABOUT CINEDIGM
Since inception, Cinedigm (NASDAQ: CIDM) has
been a leader at the forefront of the digital transformation of
content distribution. Adapting to the rapidly transforming business
needs of today’s entertainment landscape, Cinedigm remains a
change-centric player focused on providing content, channels and
services to the world’s largest media, technology and retail
companies. Cinedigm’s Content and Networks groups provide original
and aggregated programming, channels and services that entertain
consumers globally across hundreds of millions of devices. For more
information, visit www.cinedigm.com.
Press Contact for CIDM:Jill Newhouse
Calcaterra310-466-5135jcalcaterra@cinedigm.com
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