IMAX to Expand Board of Directors
July 28, 2010 – 2:46 pmIMAX Calls Special Meeting to Elect New Directors
TORONTO, Jul 28, 2010 (GlobeNewswire via COMTEX) — IMAX Corporation (Nasdaq:IMAX) (TSX:IMX) today announced a special meeting of shareholders, scheduled for September 28, 2010 in New York, NY, to elect two directors to fill vacancies created by the recent increase in the number of directors from seven to nine. The nominees for election are I. Martin Pompadur and Eric A. Demirian.
Currently, Mr. Pompadur is Chairman of Metan Development Group, which is based in Los Angeles and Beijing. Prior to Metan, Mr. Pompadur worked for News Corp. for 10 years, in several positions including Chairman of News Corp. Europe and President of News Corporation Eastern and Central Europe. Mr. Pompadur serves on the board of Nexstar Broadcasting Group Inc.
Mr. Demirian has been President of Parklea Capital, Inc., since September 2003. Previously, he served as Executive Vice President, Corporate Development and Member of the executive management team at GT Group Telecom Inc. from January 2000 to February 2003. Prior to 2000, he held executive positions at PricewaterhouseCoopers. Mr. Demirian serves on the boards of Enghouse Systems Ltd. and Menu Foods Income Fund.
“We are very pleased to have Marty and Eric join the Board,” said Bradley J. Wechsler, Chairman of the Board of IMAX Corporation. “With their extensive experience in media, technology and finance, Marty and Eric bring valuable expertise and knowledge that will benefit IMAX as we continue to execute on our operating strategy going forward.”
Richard L. Gelfond, IMAX’s CEO, added, “Marty and Eric are strong additions to our Board, with proven track records growing and managing global companies. Marty and Eric are also strong business operators and we look forward to working with them as we continue to grow our worldwide theatre network and embark on future growth initiatives for the IMAX brand.”
Messrs. Demirian and Pompadur qualify as independent directors within the meaning of the Marketplace Rules of the Nasdaq Stock Market, LLC and, if elected, will serve as Class II and III directors, respectively.
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