AMC CEO Adam Aron named chairman of the cinema operator's board

AMC Entertainment Holdings Inc. AMC, +24.47% said Wednesday its committee has named Chief Executive Adam Aron arsenic president of the board. The committee of the world's biggest cinema relation named Ambassador Philip Lader astatine its pb director. Aron has been CEO and president of AMC since 2016, overseeing the institution done the hard pandemic year. Lader has been an autarkic manager since July of 2019, aft serving arsenic U.S. ambassador successful London and was head of the U.S. Small Business Administration during the presidency of Bill Clinton. As expected, Lin Zhang and Mao Jun person resigned from the board. The brace are elder executives astatine China's Wanda Group, which precocious sold astir of the shares n AMC that it held betwixt 2012 and 2020. AMC shares were down 2.9% premarket, but person gained 341% successful the past 3 months, aft the banal became 1 of the meme stocks, beloved by a radical of traders that stitchery connected the Reddit forum WallStreetBets.