Everyman announces their incoming CEO

On Monday, cinema operator, Everyman Media Group (LON:EMAN), announced the appointment of Alex Scrimgeour to the role of Chief Executive Officer, effective from 18 January 2021.

Mr Scrimgeour has an impressive track record in the leisure industry, having taken Côte Restaurant to its current status, as a reliable multi-site restaurant, and as a brand well-respected by consumers.

Acting as the company’s CEO for the past five years, Alex was a leading force in the team that achieved the restaurant’s ‘significant’ growth amid the tense post-Brexit-referendum environment. According to Everyman, Mr Scrimgeour’s success owed to his ability to innovate and create a highly-motivated workforce, which enabled Côte to continue scaling-up its operations and outperform the market.

 As well as being a driving force behind Côte’s growth, Everyman attributed part of the reason for appointing Mr Scrimgeour to his ability to address customer needs in the ever-evolving leisure market. As proof of this capability, Scrimgeour founded and launched Côte’s e-commerce brand, ‘Côte at Home’, which provides customers with the ability to enjoy the restaurant’s dining experience from home.   

Commenting on the appointment, Everyman Executiev Chairman, Paul Wise, said: “We are delighted to welcome Alex as the Company’s new CEO. As always, we are committed to providing a contemporary, exceptional experience for our customers. With Alex’s knowledge and expertise, we look forward to reinforcing and expanding the Everyman brand and experience. The appointment reinforces our optimism in life beyond Covid.” 

Alex Scrimgeour, incoming CEO,added: “Everyman is a truly differentiated proposition with a well-established culture of excellence. I am delighted to be joining Paul and the team who have already shown me such a warm welcome. It is hugely exciting to take the business forward and build on such solid foundations as we look to expand in the years ahead.”

Following the announcement, Everyman shares rallied 4.35%, before flipping and dropping down to a 0.87% dip, at 114.00p a share 14/12/20. The company’s current price is ahead of the company’s year-to-date low of 71p a share, but less than half of analysts’ target price, of 300p apiece.

Analysts currently have a Buy rating on the stock, while the Marketbeat community issue a 57.84% ‘Underperform’ stance on the company.