COLUMBUS, Ga.-- Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading digital cinema and 3D motion picture exhibitor, today announced that effective immediately, S. David Passman III, the Company's Chairman of the Board, has been appointed President and Chief Executive Officer and that current Board member, Roland C. Smith, will succeed Mr. Passman as Carmike's Chairman of the Board. Fred Van Noy remains with Carmike as Chief Operating Officer and Richard B. Hare continues as Chief Financial Officer.
Commenting on Mr. Passman's appointment, Roland C. Smith stated, "David's appointment was a logical choice given the excellent job he has done in collaborating with Fred and Richard in the Office of the Chairman, his ability to build a team spirit throughout the organization and the many contributions he has made to the Company since joining the Board approximately six years ago.
"We are optimistic about our future prospects under David's management based on Carmike's industry leadership in digital cinema and 3D cinema deployments. The Company has achieved significant operating, financial and balance sheet improvements including increases in total attendance and average attendance per screen. We believe these factors when combined with strict expense discipline and additional progress in reducing bank debt have positioned us to further enhance shareholder value."
Commenting on his new appointment as CEO of Carmike Cinemas, David Passman stated, "I've immensely enjoyed working with Fred, Richard and the other Carmike associates in the transitional leadership role of the Office of the Chairman over the past few months. It is an honor to now be stepping into an executive role so I can help lead the organization as it capitalizes on its leadership position as an innovator in the exhibition industry."
Mr. Smith has been a member of the Company's Board since April 2002 and he has served as Chairman of the Compensation and Nominating Committee and as a member of the Executive Committee. Mr. Passman has been a Carmike director since June 2003. In addition to his recent roles as Chairman and as a member of the Office of the Chairman, he has served on Carmike's Audit, Executive and Compensation and Nominating Committees.
Roland C. Smith has served as President and CEO of Wendy's/Arby's Group, Inc. and CEO of Wendy's International, Inc., a restaurant owner, operator and franchisor, since September 2008. Mr. Smith served as CEO of Triarc Companies, Inc. from June 2006 until September 2008 and the CEO of Arby's Restaurant Group, Inc. from April 2006 until September 2008. Mr. Smith was President and CEO of American Golf Corporation and National Golf Properties, an owner and operator of golf courses, from February 2003 to November 2005. He also served as President and CEO of AMF Bowling Worldwide, Inc., an owner and operator of bowling centers, from April 1999 until January 2003.
S. David Passman III recently retired from his position as President and CEO of IBS-STL, Inc., a book publishing and distribution company, where he had served since June 2005. Previously, Mr. Passman served as President of the Harland Printed Products and Harland Checks divisions of John H. Harland Company, a provider of printed products and software and related services to the financial institution market, from 1999 to 2003, and also served as its CFO from 1996 to 1999. Mr. Passman is a former partner of Deloitte & Touche LLP, a public accounting firm, where he served as the Managing Partner of the Atlanta office from 1993 to 1996.