London (Parliament Politics Magazine) – Everyman Cinema CEO Alex Scrimgeour resigns after a profit warning, with Farah Golant named interim leader to temporarily head the UK cinema chain.
According to Holly Williams of The Independent, Everyman Media Group’s CEO has stepped down following a profit warning amid weak box office results.
What led Everyman CEO Alex Scrimgeour to step down?
Everyman has appointed non-executive director Farah Golant as interim CEO, replacing Alex Scrimgeour, who resigns after leading the firm for around five years.
Mr Scrimgeour served as Everyman’s chief executive for five years, joining in January 2021 after leading Cote Brasserie since 2015.
His unexpected exit comes after a December profit warning, during which Everyman’s shares drops sharply, and follows the finance director’s step down before Christmas.
Everyman, with 49 cinemas in Britain, reported weaker-than-expected box office results for the fourth quarter due to ongoing consumer spending pressure.
The firm said it now expects annual sales of at least £114.5 million and underlying earnings of £16.8 million, down from previous estimates of £121.6 million and £20 million.
Chairman Philip Jacobson stated,
“We would like to thank Alex for his commitment to Everyman throughout his tenure.”
He said,
“He has played a pivotal role in the team that successfully led the business through its recovery from Covid, more than doubling revenue and delivering significant Ebitda (earnings before interest, tax, depreciation and amortisation) growth.”
Mr Jacobson continued,
“Farah has extensive experience across the global creative, entertainment and media industries, and a track record of accelerating growth and cultivating high-performance, results-oriented organisations.”
Everyman confirmed it has launched an external recruitment process for a permanent successor to Mr Scrimgeour.
Ms Golant, now interim head, brings more than 30 years of experience in media and creative industries. She has previously held roles including President of Kyu Group and CEO of Nike Foundation’s Girl Effect and digital production and distribution group All3Media.
What did Dan Coatsworth say about Everyman’s share plunge?
Dan Coatsworth, head of markets at AJ Bell, said Everyman has faced growing pressure from larger rivals copying its “winning elements,” leading to a 76% drop in shares over the past five years.
He said,
“The leading chains Vue and Odeon have installed reclining seats, bringing comfort to the mass market, while they also rolled out bars inside their cinemas.”
Mr Coatsworth stated,
“Scrimgeour declared Everyman to be a ‘truly differentiated proposition’ when he was appointed five years ago. Fast-forward to the present day, and that differentiation has gone up in smoke.”
He added,
“It’s fair to say that 2025 wasn’t a golden year for new film releases, making matters worse for Everyman. Everyman has now lost both its chief executive and its finance director over the past fortnight; the latter having resigned on December 15. That’s unfortunate timing and means the pressure is on to find a new leadership team fast.”
What are the annual profits of Everyman cinema?
Everyman Media Group’s annual profitability has shown growth in revenue but flat-to-slightly-declining profits in recent years.
For the year ended January 2025, the firm reported a Group Revenue of £107.2 million, a significant increase from the past year. Its profit, measured as Adjusted EBITDA, was £16.2 million, remaining nearly flat compared to 2023.
For the current 2025 financial year, the company’s first-half performance was strong, with revenue up 21%. A recent trading update revised the full-year forecast, expecting revenue of at least £114.5 million and EBITDA of at least £16.8 million.
