Everyman Cinemas CEO Steps Down: Challenges Amid Post-Pandemic RecoveryThe CEO of upscale cinema chain Everyman, Alex Scrimgeour, has resigned just weeks after warning of missed sales and profit targets. Farah Golant, a non-executive director, will serve as interim CEO while the company searches for a permanent replacement.Scrimgeour, who joined Everyman in 2021 from Cote Brasserie, had guided the company through a challenging post-pandemic recovery, nearly doubling revenue and significantly boosting profits. However, shares in Everyman have plummeted 50% this year and over 90% since their peak in 2018.Analyst Dan Coatsworth attributes Everymans struggles to rivals like Vue and Odeon copying its luxury features, such as reclining seats and in-cinema bars. The latest trading update revealed weaker-than-expected box office results, despite hits like Wicked. UK cinema revenue dropped 9% in October and 33% in November, due to rising costs, unemployment, and taxes.Everyman now expects at least £114.5 million in revenue and £16.8 million in profit for the year ending January 1st, still up from last year but short of earlier goals. The finance director also resigned on December 15th, adding urgency to the search for new leaders. Checkout Solipillow.com

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