AllianceAtlantis' releasing arm Motion Picture Distribution has restructured the seniormanagement and board, with Victor Loewy, current CEO assuming the title ofchairman and Patrice Theroux moving from president and COO to president andCEO. The position of COO has been phased out. The changes are effective Feb 1,2006.
In a statement,Loewy said the new structure will streamline executive functions. Of Theroux'sappointment, he commented, 'Patrice has been an integral part of thegrowth and development of all aspects of our business and he brings to the CEOrole the necessary combination of leadership, experience and strong industryrelationships.'
Meanwhile, DavidLazzarato, executive vice president and CFO of AAC and a director of MPDassumes the newly created position of vice chair of the board of directors.Phyllis Yaffe, CEO of AAC will join the board, replacing AAC executive chairmanMichael MacMillan, who leaves the board.
The MPD boardwill also increase from seven to nine seats. Five directors will be nominees ofAlliance Atlantis, which holds a 51% indirect interest in MPD and the balancewill be appointed by Movie Distribution Income Fund, which holds the remaining49% indirect interest in the Partnership.
The presentseven-member board has four nominees of Alliance Atlantis and three nominees ofMovie Distribution Income Fund. The nominees of Alliance Atlantis will bePhyllis Yaffe, David Lazzarato, Barry Reiter and two additional persons to benamed. Movie Distribution Income Fund's nominees will be Loewy along with threeFund trustees, John Bailey, Rubin Osten and David Richards.