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IMAX Corporation Names Jiande Chen CEO of China
September 8, 2011--IMAX Corporation today announced the appointment of Jiande Chen as Chief Executive Officer of IMAX China, a wholly-owned subsidiary of IMAX Corporation.
Reporting directly to China's Board of Directors and its Chairman, IMAX CEO Richard Gelfond, Mr. Chen will direct the company's rapid expansion in the greater China region, as well as develop and execute strategies that will enable IMAX to extend its leadership position and involvement in the continuing development of China's entertainment industry.
IMAX China's leadership team will report to Mr. Chen. IMAX veteran Don Savant has been promoted to President, Theatre Development & Film Distribution and remains Managing Director, Asia Pacific. Mr. Savant has been an integral part of the IMAX team since April 2000 and has laid the groundwork for a vibrant and viable theater network and distribution channel for Hollywood's most popular and successful movies on IMAX screens throughout the Asia Pacific region. IMAX also appointed Jim Athanasopolous Chief Financial Officer of IMAX China. Mr. Athanasopolous previously served as Senior Vice President, Joint Venture Theatre Development at IMAX Corp. in Mississauga, Canada. Jessie Chou, Vice President, Theatre Operations and Marketing and Karl Yuan, Vice President, Theatre Development remain key members of the IMAX China management team. Together Mr. Chen, Mr. Savant, Mr. Athanasopolous, Ms. Chou and Mr. Yuan will ensure that The IMAX Experience® and the IMAX brand continue to grow in popularity in China.
"Mr. Chen brings more than 15 years of senior leadership and business acumen to IMAX, including the last 12 years at Sony Pictures Entertainment in Beijing where he was responsible for distribution, production and licensing," said Mr. Gelfond. "The synergy between his experience at Sony and our efforts to develop the IMAX brand makes him a perfect fit to build market share and lead IMAX China in this region's rapidly developing motion picture industry."
"IMAX is uniquely positioned to participate in the rapidly expanding cinema industry in China. Consumers have already demonstrated a strong appetite for the awe-inspiring entertainment experience of IMAX films, which makes this an even more exciting time to be part of the IMAX team," said Mr. Chen. "I am thrilled by this opportunity to witness firsthand the dramatic change in China's entertainment industry and to be part of IMAX's dynamic team as we continue to build The IMAX Experience in China."
IMAX China, a wholly-owned subsidiary of IMAX Corporation with two offices in China--one in Shanghai and one in Beijing--was established to provide a foundation upon which to expand the IMAX business throughout Greater China. China is IMAX's second-largest and fastest-growing market in the world, with 48 IMAX theaters (30 commercial and 18 institutional) open today, and 181 IMAX theaters contracted to be open throughout the region by 2015. In March 2011, IMAX Corporation signed a joint revenue sharing arrangement in China with Wanda Cinema Line Corporation for 75 theaters.
IMAX theaters in Greater China are among the company's highest grossing in the world. Through the first eight months of 2011, IMAX theaters in Greater China have grossed more than $40 million in box office from Hollywood and local-language DMR titles, generating a per screen average of approximately $1.5 million. IMAX has partnered with several leading Chinese film production companies on the release of local-language films beginning with the 2010 release of
Aftershock: The IMAX Experience
The IMAX DMR titles slated for potential release in China for the remainder of 2011 and 2012 include
Sector 7, Real Steel, The Adventures of Tintin: The Secret of the Unicorn
Happy Feet 2
Puss In Boots
Flying Swords of Dragon Gate
Mission: Impossible Ghost Protocol
The Amazing Spider-Man
The Dark Knight Rises
The Hobbit: An Unexpected Journey
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