Everyman Cinema Boss Departs Weeks After Profit Warning

The chief executive of the UK cinema chain Everyman Media Group has stepped down with immediate effect, less than three weeks after the company issued a profit warning that sent its share price sharply lower.

Everyman confirmed on Monday that Alex Scrimgeour had left the business and that Farah Golant would take over as interim chief executive. The sudden change at the top comes at a sensitive time for the group, which has been grappling with weaker than expected trading conditions.

On 10 December, Everyman told investors that revenues and earnings for the year would fall short of previous expectations. The announcement prompted an immediate market reaction, with the company’s shares dropping by around 20 percent in a single day. At the time, the group cited softer consumer spending and challenging market conditions for the downgrade.

Everyman operates 49 cinemas across the UK and has carved out a niche as a premium alternative to traditional multiplexes. Its venues are known for luxury seating, in seat food and drink service, and a focus on experience rather than scale. That positioning helped the chain build a loyal customer base before the pandemic, but it also exposes the business to shifts in discretionary spending.

The cinema sector has faced a difficult recovery in recent years. While audiences returned following pandemic restrictions, attendance levels have remained uneven. Rising living costs have made consumers more selective about leisure spending, and premium offerings, while appealing, can be among the first to be cut when household budgets are under pressure.

In its recent trading update, Everyman said performance had been affected by a quieter than expected autumn period and increased operating costs. Energy prices, wages and food inflation have all weighed on margins, particularly for businesses offering hospitality alongside entertainment.

Scrimgeour’s departure has raised questions among investors about strategic direction and leadership stability. He had been chief executive since 2019 and oversaw the company through the pandemic shutdowns and subsequent reopening phase. His exit so soon after a profit warning has fuelled speculation about whether the board is seeking a change in approach as trading conditions remain tough.

Everyman said the transition would be overseen by Golant, a non executive director with experience in retail and consumer facing businesses. The company has not yet indicated how long the interim arrangement will last or when a permanent replacement might be appointed.

In a brief statement, the board thanked Scrimgeour for his contribution and said the company remained focused on delivering long term value. No further details were given about the circumstances surrounding his departure.

Analysts say the timing highlights the pressures facing the cinema industry more broadly. Hollywood release schedules have been disrupted in recent years by strikes and production delays, leading to an uneven flow of blockbuster films. At the same time, competition from streaming platforms continues to reshape viewing habits, particularly among younger audiences.

For premium cinema operators like Everyman, the challenge is balancing experience led differentiation with affordability. While customers may be willing to pay more for comfort and service on special occasions, frequency of visits can decline when economic confidence weakens.

Despite the recent setback, Everyman has previously argued that its model positions it well for long term growth. Smaller, well located venues and a strong food and beverage offering are seen as advantages compared with larger multiplex operators. However, execution remains critical, especially as costs rise and consumer behaviour continues to shift.

Investors will now be watching closely for further updates on trading and leadership. The appointment of an interim chief executive suggests the board is taking a cautious approach while assessing next steps. Any additional guidance on strategy, cost control or expansion plans will be closely scrutinised by the market.

The departure also comes at a time when listed leisure and hospitality businesses are under increased pressure to demonstrate resilience. Profit warnings across the sector have become more common as companies adjust to slower growth and changing demand patterns.

For Everyman, the coming months will be crucial. Stabilising performance, restoring investor confidence and navigating a difficult trading environment will all be high priorities for the new interim leadership. Whether the change at the top marks a brief transition or the start of a broader reset remains to be seen.

What is clear is that the profit warning and subsequent leadership exit underline how exposed even premium leisure brands can be to economic headwinds. As consumers continue to reassess spending, cinema operators face the task of convincing audiences that the big screen experience remains worth the price.