Cineplex stock rises after CEO Ellis Jacob announces 2026 retirement

Investing.com -- Cineplex Inc . (TSX: CGX) stock rose 5% Friday after the company announced that longtime President and CEO Ellis Jacob will retire on December 31, 2026.

Jacob will continue to lead Canada’s leading entertainment and media company during the interim period and assist with the transition to a new leadership structure, according to a company statement.

"The Board is delighted to recognize Ellis, who has built Cineplex Inc. over the past four decades into one of the world’s best operators of movie theatres and family entertainment centres," said Cineplex Board Chair Phyllis Yaffe.

Jacob has received numerous industry accolades throughout his career, including the recent Canadian Cinema and Television Tribute Award at the 2025 Canadian Screen Awards and the 2022 NATO Marquee Award from the National Association of Theatre Owners. He has also been recognized with the Order of Canada and the Order of Ontario.

"After thoughtful consideration, I welcome this next chapter. For decades, I have been focused on making Cineplex a great Canadian company," Jacob said in the announcement, adding that he remains "committed to working with the Board and the talented team at Cineplex during this transition period."

The planned retirement comes with a lengthy transition timeline of approximately 20 months, providing the company ample time to implement its succession plan.

You May Also Be Interested In

• Savour the Last Stretch of Summer with $5 Movies and Popcorn
• Jefferies raises long-term uranium prices outlook
• Chevron gets Street-High PT at Piper Sandler on booming oil prices