Portfolio Business news
17 January 2014
Odeon & UCI Cinemas announces management succession
Odeon & UCI Cinemas has today announced that Rupert Gavin has decided that he will step down as CEO after over eight years in the role, to pursue a range of other ventures. He will continue as an adviser to Terra Firma, Odeon’s ultimate shareholder, and has been appointed non-executive director to one of its portfolio companies, The Garden Centre Group.
The Board thanks Rupert for his contribution as CEO of the Group, where he has successfully led the transformation of Odeon & UCI, which were acquired as separate businesses, into the leading pan-European cinema operator following a series of further acquisitions.
The Board is also delighted to announce that Paul Donovan has been appointed as a successor to Rupert. Paul joins Odeon & UCI with over twenty five years of experience working at senior level for international consumer goods and technology companies. These include Coca-Cola and Schweppes Beverages, Apple Computers, BT, Cable & Wireless, and Vodafone, where he was a member of the Group Executive Committee. Most recently Paul was CEO of the Eircom Group, Ireland’s leading telecoms operator, where he led a process of successful transformation. Paul will join Odeon on 27 January 2014 and succeeds Rupert as CEO on 17 February 2014.
Guy Hands, Chairman and Chief Investment Officer of Terra Firma, said: “We are grateful to Rupert for his hard work and commitment in building Odeon & UCI into Europe’s leading cinema operator. It has been a pleasure to work with him, and we look forward to continuing to benefit from his experience and insights, both as an adviser to Terra Firma and a director of one of our portfolio companies.”
“I am also delighted to welcome Paul Donovan to the business. Paul has extensive experience working with some of the world’s most recognisable brands, as both an executive and non-executive. This will be invaluable to Odeon & UCI as we continue to invest to transform and grow the business.”
Rupert Gavin said: “After eight years leading Odeon, I feel that now is the right time to step down as CEO and to move on to a range of other challenges. I will be building my own business, as well as taking on several Board roles. It has been a privilege to work with the Odeon team for eight years, and I am very proud of what we have achieved together. It is a credit to all of them that Odeon has become a world class, fully digital cinema operator, and I expect the business will continue to go from strength to strength under Paul’s leadership. I am delighted to be
continuing my association with Terra Firma.”
Paul Donovan said: “Odeon is a great brand with strong market positions and exciting prospects for the future. I look forward to leading the business through the next stage of its development, and to working closely with the management team and with Terra Firma to execute the strategy for driving Odeon’s ongoing future success.”