DALLAS, Oct. 12 /PRNewswire/ -- Rave Cinemas, LLC ("Rave") today announced that its Chief Executive Officer, Thomas W. Stephenson, Jr., will transition to a new role as a Vice Chairman of the company's board of directors. Mr. Stephenson will continue as CEO of the company until a successor is named.
Charles B. Moss, Jr., Chairman of the Board, said: "Tom Stephenson's expertise and passion have positioned Rave as a leader in the exhibition industry. Under Tom's leadership, Rave has grown from a start-up company into the fifth-largest theater circuit in the country and an industry leader in cutting-edge digital, 3-D and IMAX technologies and alternative content. In his new role as a Vice Chairman, Tom's vision will continue to shape the future of Rave."
Mr. Stephenson added: "Rave has come a very long way over the past decade. Now that Rave has grown into a truly national chain, my role as a strategic leader of the company will be best served as a Vice Chairman where I can focus on new theater development, acquisitions and new technologies. I look forward to working with the strong leadership team that I have put in place, as well as my successor, to execute Rave's vision."
Tom Stephenson is a veteran business leader with over 30 years of senior-level investment experience and 15 years of management experience in the entertainment industry. Throughout his career, Tom has constantly sought to improve the theater-going experience for customers by being an early adopter of stadium seating, aggressively pursuing new technologies and creating an industry-leading concession program.
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ABOUT RAVE CINEMAS, LLC
Dallas-based Rave Cinemas, LLC, the United States' fifth-largest theater exhibition chain, owns or manages 61 theaters and 918 screens located in 20 states across the country under the Rave Motion Pictures brand and has a presence in seven of the top ten Designated Market Areas. Rave has set the industry standard for customer experience and comfort. A pioneer in the adoption of digital and 3-D technologies, Rave is a leader in alternative content programming from live sports to concerts and opera. The company recently announced a joint venture with IMAX that will open 13 new IMAX digital theaters at Rave locations by early 2011. Rave is excited to be a top entertainment destination and through ongoing efforts, a good neighbor and corporate citizen. For more information, visit www.ravemotionpictures.com.
SOURCE Rave Cinemas, LLC