LOS ANGELES, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Cinedigm (NASDAQ: CIDM) announced today that Gary Loffredo has been appointed to the newly created role of Chief Operating Officer. In addition, Loffredo will retain his roles as General Counsel and President of Digital Cinema. Loffredo will continue reporting to Chris McGurk, Chairman of the Board and Chief Executive Officer, and will be responsible for the day-to-day management of legal, finance, human resources, business development, IT and strategic planning. This move is also intended to streamline the Company’s corporate structure and enhance management effectiveness and coordination.
Loffredo has been a key management figure with Cinedigm since 2000, working in a variety of roles including Senior Vice President – Business Affairs, General Counsel, Secretary, and Interim Co-Chief Executive Officer, and serving on the Board of Directors. He is also our Corporate Secretary. Loffredo was previously Vice President, General Counsel and Secretary of Cablevision Cinemas, and an attorney at Kelley Drye & Warren LLP.
In the Finance area, CFO Jeffrey Edell will be leaving the Company to pursue outside interests. The company has no plans to replace the CFO position. The key executives on the finance team, Samina Merchant/VP Financial Reporting, Chris Panagiotakos/VP Controller, Chris Pak/VP FP&A and Business Development, and Mellonie Suen/Executive Director, Accounting and Royalties, will now report directly to Loffredo.
Ron Chez, Strategic Advisor to the Company, will continue to work closely with Loffredo and McGurk across all key corporate management areas.
“Gary’s long track record, significant industry experience and numerous management roles within Cinedigm over the last 18 years give me complete confidence in his ability to manage and grow all aspects of our operations as COO,” said McGurk. “This appointment will streamline Cinedigm’s corporate structure, further improve operating efficiencies and corporate coordination and leverage Gary’s unique experience with Cinedigm now that we have repositioned ourselves as a leading OTT streaming company.”
McGurk continued, “Gary’s recent focus on business development and acquisitions, combined with the wind down of our legacy Digital Cinema, presented the perfect opportunity for us to add this expanded role to his responsibilities We also want to thank Jeff Edell for his years of service to Cinedigm and wish him well with his future endeavors.”
“I am very pleased to take on the role of COO,” said Loffredo. “We have already seen success as we transform Cinedigm into a leading streaming and OTT company, and under the leadership of Chris and the rest of our management team, I am excited about the future of Cinedigm.”
Since inception, Cinedigm (NASDAQ: CIDM) has been a leader at the forefront of the digital transformation of content distribution. Adapting to the rapidly transforming business needs of today’s entertainment landscape, Cinedigm remains a change-centric player focused on providing content, channels and services to the world’s largest media, technology and retail companies. Cinedigm’s Content and Networks groups provide original and aggregated programming, channels and services that entertain consumers globally across hundreds of millions of devices. For more information, visit www.cinedigm.com.
Press Contact for CIDM:
Jill Newhouse Calcaterra
Source: Cinedigm Digital Cinema Corp.