MAHWAH, N.J., March 24, 2011 /PRNewswire/ -- The Board of Directors of Digital Cinema Implementation Partners, LLC (DCIP) announced today that Richard Manzione, the company's Chief Operating Officer (COO), has been named President and Chief Executive Officer (CEO) effective March 1, 2011. After completing an extensive four-month recruitment and interview process, the Board cited Manzione's proven track record of leadership in the organization, extensive industry experience and his commitment to DCIP's exhibitors, studio partners and employees in making its decision. DCIP was formed in February 2007 by AMC Entertainment Inc., Cinemark Holdings, Inc. and Regal Entertainment Group, the three largest theatrical exhibitors in the United States, to facilitate the deployment of digital cinema projectors to movie theatres in the United States and Canada.
As COO of DCIP, Manzione has been managing the business, supported by DCIP's management team, since the departure of the company's former CEO in October 2010. Manzione has been with DCIP since its inception and was instrumental in the company's formation and launch. He has managed all aspects of DCIP's operations, including infrastructure and systems development, finance and accounting, digital equipment deployment and administrative and technology services. Manzione is an exhibition industry veteran with over 25 years of experience, most recently for Loews Cineplex Entertainment prior to its merger with AMC Entertainment, serving in the roles of Senior Vice President of Strategic Development and Vice President of Operations.
"I am honored to have the opportunity to continue leading DCIP," said Manzione. "We have just completed our first full year of operations and have deployed over 6,700 digital systems across North America. Digital projection provides movie-goers with improved presentation and also enables newer technologies such as 3-D and alternative entertainment options to thrive. Our priority will be to maintain our seamless digital rollout while continuing to be a strong and committed partner to the exhibitors and studios as they leverage the growing digital infrastructure."
"We identified all of the qualifications required for the next leader of DCIP," said Gerry Lopez, CEO and President of AMC Entertainment Inc. "We're happy to say that Rich exceeds these qualifications and we are confident he brings the right mix of proven leadership, industry experience and acumen to the role. He also brought the advantage of a seamless transition to the position."
"Rich has done an outstanding job of operating DCIP and served as a great leader during this transition period," said DCIP Board member Alan Stock, CEO of Cinemark Holdings, Inc. "Having worked with him since the formation of DCIP, I believe he is clearly the right person to lead our company forward. Digital cinema will continue to provide an enhanced entertainment experience for our guests, and we are pleased to have a leader like Rich help us achieve our vision."
"Rich is the ideal leader to guide DCIP at a critical juncture in our history," said DCIP Board member Amy Miles, CEO of Regal Entertainment Group. "He has already helped place DCIP in a very strong position as the world leader in digital deployment, which will continue to enrich our customers' movie-going experience and greatly enhance our business and our industry."
DCIP has deployed more than 6,700 digital projection systems in more than 1,000 theatres since March 2010 and is tracking well ahead of its planned deployment schedule to digitize nearly 15,000 screens in the United States and Canada over the next several years.
About Digital Cinema Implementation Partners
Digital Cinema Implementation Partners, LLC is a joint venture owned equally by exhibition industry leaders AMC Entertainment Inc., Cinemark Holdings, Inc. and Regal Entertainment Group, representing more than 15,000 screens in the United States and Canada. Formed in February 2007 to facilitate the roll-out of a digital cinema infrastructure in the United States and Canada, the company is headquartered in Mahwah, N.J. with offices in Minneapolis and Denver.
Cautionary Language Concerning Forward-Looking Statements
The statements contained in this release that are not historical facts are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. These statements include our plans and our expectations regarding our rollout of digital projection equipment and the impact thereof on the moviegoing experience of theatre patrons and on the distribution of movies in digital format the projection of our rollout. DCIP cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of DCIP may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors, including the actual production, installation and quality of digital projection equipment, acceptance thereof by theater patrons and the actual production of movies in digital format and bookings thereof to converted screens. DCIP undertakes no obligation to update any forward-looking statements.
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SOURCE Digital Cinema Implementation Partners