Cinemark Holdings, Inc., headquartered in Plano, announced this week that founder Lee Roy Mitchell is transitioning from executive chairman to board member.
Lee Roy Mitchell grew up around his family’s theatre business, and “did everything from booking the movies to working in the concession stand,” according to BusinessWire. He started his own theatre business in Ennis which eventually expanded into one of the largest independent theatre exhibitors in the country. He is also credited with developing the concept of “reduced admission nights” which were later picked up by theater companies across the country.
Mitchell founded Cinemark in 1984, and it has since grown to 520 theatres in the United States and Latin America as of March 21, 2022. It is the third largest cinema circuit in the country and fourth largest movie theater chain in the world. Now, after serving as CEO for years before transitioning to executive chairman for 26 years, Mitchell is moving again to member of the board, effective May 19.
Carlos Sepulveda, who has served as a board member since 2007 and Lead Director since 2016, will be taking Lee Roy Mitchell’s place as chairman.
“It has been an honor serving as Executive Chairman of the Board alongside my esteemed colleagues, and I look forward to continuing to participate as a Board member,” said Mitchell. “Carlos is a natural successor given his tenure and demonstrated success as Lead Director, his strong understanding of our industry and our Company, and his wealth of knowledge. I am confident that Carlos will guide the Board and support management in positioning the company for ongoing success.”
