The large-format cinema company IMAX Corporation announced Monday that Chief Executive Richard Gelfond will temporarily step away from his leadership role while undergoing treatment for pneumonia.
During Gelfond’s absence, the company’s day-to-day operations will be handled by senior leadership working alongside Chairman Darren Throop, according to the announcement.
“We have a strong, deeply experienced senior executive team who are fully engaged, providing regular updates to the board, and remain focused as always on the continued growth and success of IMAX,” Throop said in a statement.
The company indicated that Gelfond will skip upcoming corporate events, including industry conferences scheduled for the following week, while he focuses on his recovery.
In February, IMAX announced fourth-quarter earnings that exceeded Wall Street expectations, reporting revenue of $125.2 million compared to analyst projections of $120.7 million, based on data from LSEG.
