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Posted 31 August, 2022

MARCUS CORP appointed new CEO

CEO Change detected for ticker NYSE:MCS in a 8-K filed on 31 August, 2022.


  On August 25, 2022, The Marcus Corporation (the "Company") announced that Rolando B. Rodriguez will retire as Executive Vice President of the Company and Chairman, President, and Chief Executive Officer of Marcus Theatres effective as of October 1, 2022 (the "Retirement Date").  

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Overview of MARCUS CORP
Leisure/Arts/Hospitality • Recreational Services
Marcus Corp. engages in the lodging and entertainment industries. It operates through the following business segments: Theatres and Hotels & Resorts. The Theatres segment includes multiscreen motion picture theatres and a family entertainment center. The Hotels & Resorts segment owns and operates full service hotels and resorts. The company was founded by Ben Marcus on November 1, 1935 and is headquartered in Milwaukee, WI.
Market Cap
$450M
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MARCUS CORP by TradingView
Relevant filing section
Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On August 25, 2022, The Marcus Corporation (the "Company") announced that Rolando B. Rodriguez will retire as Executive Vice President of the Company and Chairman, President, and Chief Executive Officer of Marcus Theatres effective as of October 1, 2022 (the "Retirement Date"). Until the Retirement Date, Mr. Rodriguez will continue to serve the Company and Marcus Theatres on a full time basis in his current officer positions. From the Retirement Date through December 31, 2022 (the "Employment End Date"), Mr. Rodriguez will continue to be an employee of the Company and serve in the position of senior advisor. After the Employment End Date, Mr. Rodriguez will continue to act as a senior advisor to the Company in an independent contractor capacity through October 2023.


In connection with Mr. Rodriguez's retirement, the compensation committee of the board of directors of the Company approved the continuation of Mr. Rodriguez's current salary and benefits through March 24, 2023, the accelerated vesting of all outstanding options as of the Employment End Date held by Mr. Rodriguez as well as the vesting of 100% of Mr. Rodriguez's benefits under the Company's Retirement Income and Supplemental Retirement Plan (the "Supplemental Plan"). Without such approval, Mr. Rodriguez's benefits under the Supplemental Plan would be 90% vested. Mr. Rodriguez's compensation arrangements were not otherwise changed in connection with his retirement.


In connection with Mr. Rodriguez's retirement, the Company also announced that Mark A. Gramz will be appointed as the President of Marcus Theatres effective as of the Retirement Date. Mr. Gramz currently serves as the Executive Vice President of Marcus Theatres.


A copy of the press release announcing the Company's President of Marcus Theatres succession plans is filed with this Current Report on Form 8-K as Exhibit 99.1.