Navigate

Cineworld bosses’ £27m to leave stricken chain

Cineworld boss and top management team jointly receive up to £27 million to leave cinema operator after emerging from Chapter 11 proceedings

By Daily Mail City & Finance Reporter

Updated:

The Cineworld boss and his top management team will be paid a combined sum of up to £27 million to leave the cinema operator after it emerges from Chapter 11 proceedings next month.

Lenders have pledged to pay Mooky Greidinger, his brother and deputy chief Israel Greidinger, chief financial officer Nisan Cohen and chief commercial officer Renana Teperberg between £23 million and £27 million in cash within a year of their departure, the Financial Times said. .

Better outlook: Cineworld expects to emerge from bankruptcy protection in July

Cineworld declined to comment.

The world’s second-largest movie theater operator after AMC Entertainment expects to emerge from bankruptcy protection in July.

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. That helps us fund This Is Money and use it for free. We do not write articles to promote products. We do not allow any commercial relationship to compromise our editorial independence.

POPULAR MONEY SECTIONS

Related Post
  1. Online scams: Not over-sharing means women less likely to fall victim to identity theft

    Women are less than half as likely as men to have their identities stolen, according…

  2. AVI GLOBAL TRUST: £952m fund that seeks out value others have missed

    > AVI GLOBAL TRUST: £952m fund seeking value others have missed - boss avoids buying…

  3. Energy Bills Discount Scheme: How does the new Government support for businesses work?

    > When the government announced energy bill assistance for households last year, businesses were initially…