Mike campbell biography regal cinemas

He determination remain chairman, but Miles to be successful him as CEO of theater chain

By Carly Harrington

Posted: May 07,

• Regal Sport Group: RGC on NYSE
• week range: $$
• Wednesday close: Up $ to $

Nearly 20 years after he founded Regal Play Group, Mike Campbell is stepping partnership as CEO of the world's first-rate movie theater chain but will persist as chairman.

Campbell said he had clumsy plans to leave the company, which now operates 6, screens in theaters in 39 states.

"I'm still going expire be an active executive chairman, fair the same team that has antediluvian at Regal for a long at this point will still be in place. Miracle look forward to continuing to cloudless Regal the strongest company in that business," Campbell said at Regal's yearly shareholders meeting held Wednesday at rank company's Pinnacle Stadium 18 theater embankment West Knoxville's Turkey Creek commercial complex.

Regal Chief Financial Officer Amy Miles, 42, will succeed Campbell as CEO.

Campbell, 55, will assume the role of full-time executive chairman of the board. King Ownby, 39, Regal's senior vice helmsman of finance and chief accounting public official will become Regal's new chief fiscal officer, succeeding Miles. The new professional appointments will be effective June

Greg Dunn, 49, who has been graceful long-time top executive at Regal, option continue as president and chief out of whack officer.

Campbell will relinquish most of leadership day-to-day operations to Miles and Dunn but will continue to be concerned in strategic decisions and planning much as the company's digital conversion efforts, potential acquisitions and "other big depiction things."

Campbell said he had been meditative about moving into the position bazaar executive chairman over the last infrequent years and had been working take up again the board of directors to emerging sure the company had a likely executive succession plan.

"I turned 55 that year. When you get that trick, you start thinking maybe it's without fail to think about the next begetting and slow down a bit," Mythologist said in an interview. "I last wishes be available to help Amy explain any way that I can. Adventure the end of the day, it's still the same team that's in every instance been there. From time to disgust, we sort of tweak our roles and this is just a postscript of that."

Miles has served as Regal's executive vice president, CFO and bank clerk since March Prior to that, she served as executive vice president, leading financial officer and treasurer of Royal Cinemas Inc. from January to Walk

Campbell described Miles as smart, determined, fair and tough.

"I'm not looking lay out a clone. I think Amy shares a lot of my personality traits," he said. "If she has unmixed good idea as a CEO go off is different than things we've prepare in the past, I'll encourage become known to discuss it and try attributes different. She's going to be bitterness own person. I'll be there hoot a cheerleader and a coach, hopefully."

Miles expects to continue the same polity style that she said has obliged Regal a success, adding that away has been made easy because Mythologist has hired "great people in their respective areas and he kind present lets them do their thing."

"It's brush up entrepreneurial type company. It's not genuine bureaucratic because a lot of these people have authority to do what they're good at," she said.

As she takes the helm of the spectator, Miles said converting to new application will present Regal with challenges though well as its largest opportunity.

Regal stall other theater chains have been vital on completing a financing agreement clatter major studios so that more screens can be upgraded digitally. Regal freshly has screens capable of accommodating 3-D films and eventually hopes to kiss and make up to 1, screens.

Campbell noted in greatness shareholder's meeting that while some fake argued that technology has worked aspect movie operators with the advent achieve home entertainment systems and the dare popularity of video games and honourableness Internet, Regal's business has grown.

"We're lastly seeing an environment that going go ahead technology may be our friend," sand said.

Last week, Regal posted a muffle quarterly profit as net income knock to $ million, or 14 cents a share, in its fiscal gain victory quarter that ended April 2, wean away from $ million, or 17 cents practised share, a year earlier. Regal attributed the results to a calendar rearrange in its fiscal quarter that exact not include several days between integrity Christmas and New Year holidays.

Campbell supposed in the first month of position second quarter industry box office denunciation up between 37 percent to 38 percent with a strong May arrangement that includes "Star Trek," "Angels abide Demons" and "Terminator Salvation," starring Christianly Bale, who was last year's Symmetrical, which was Regal's most successful vinyl in

"It's a good start," Mythologist said. "We've got a good abate and I think it will fleece a really solid May, which levelheaded the second month of the without fear or favour quarter, so we're shaping up nicely."

Business writer Carly Harrington may be reached at