Tom Owens Retires after a Distinguished 25-Year Career with Cinemark
PLANO, Texas--(BUSINESS WIRE)--Feb. 6, 2018--
Cinemark Holdings, Inc. (NYSE: CNK), a leading motion picture exhibitor,
announced today that Jay Jostrand has been promoted to Senior Vice
President of Real Estate and will succeed Tom Owens, who will be
retiring March 30, 2018. Mr. Jostrand will oversee all new and
repositioned domestic theatre assets while seeking merger and
acquisition prospects. Mr. Owens has agreed to provide consulting
services to the Company for strategic opportunities following his
“Tom has been an invaluable member of the Cinemark executive leadership
team and will be deeply missed, both personally and professionally,”
stated Mark Zoradi, Chief Executive Officer. “We are incredibly thankful
for his significant contributions to the Company, including the
development of an outstanding real estate department. With Jay’s
leadership and outstanding track-record, Cinemark is well-poised for
continued success in developing and expanding our domestic circuit. We
wish Tom a happy and healthy retirement and congratulate Jay on his
“It has been an honor and a privilege to work alongside the Cinemark
team spanning more than two decades,” stated Tom Owens. “Jay has been
instrumental in the development and implementation of our new build and
recliner initiatives. As such, I am confident in his ability to oversee
Cinemark’s real estate division and anticipate a seamless transition.”
“I greatly look forward to overseeing Cinemark’s Real Estate team and
building upon the success we have recognized to-date,” said Jay
Jostrand. “With our balanced and disciplined investment approach, we
will maintain our strong competitive positioning throughout our domestic
circuit reaching 41 states.”
Jay has had an extensive career in real estate development, as well as
ownership and brokerage experience. During his 16-year tenure with
Cinemark, he has been integral in securing locations for the Company’s
significant domestic theatre growth and identifying locations for
re-positioning with Luxury Lounger recliner seats.
About Cinemark Holdings, Inc.
Cinemark is a leading domestic and international motion picture
exhibitor, operating 533 theatres with 5,957 screens in 41 U.S. states,
Brazil, Argentina, and 13 other Latin American countries as of September
30, 2017. For more information, please visit investors.cinemark.com.
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Source: Cinemark Holdings, Inc.
Cinemark Holdings, Inc.
Lanay Stokes, 972-665-1680