Cineplex president and CEO Ellis Jacob has announced his retirement, set for Dec. 31, 2026.

Until then, Jacob will remain at the helm and aid in the leadership transition, according to a news release Friday.

With a career spanning over 35 years in the film exhibition industry, Jacob co-founded Toronto-based entertainment company Galaxy Entertainment in 1999. He has been president and CEO of Cineplex since 2003, following its creation as a result of a merger between Loews Cineplex Entertainment’s Canadian operations and Galaxy Entertainment.

During his tenure, he has overseen the opening of numerous movie theatres, as well as the expansion of ancillary businesses including arcades, restaurants and e-sports venues.

Recently, Jacob was one of the recipients of the Academy Board of Directors’ Tribute Award at this year’s Canadian Screen Awards, and over his career has been recognized with the Order of Canada (2010) and the Order of Ontario (2020). He serves on several boards including Cineplex and Boat Rocker Media.

“For decades, I have been focused on making Cineplex a great Canadian company, and I move forward with immense pride in what we’ve built for generations of Canadian movie fans who come to us for those magical moments of escape that can only be found in a true theatre experience,” Jacob said in the release.

Cineplex’s first-quarter results in May saw a 10.3% year-over-year drop in revenues, to $264.3 million, with 26.5% growth in digital media revenue. Jacob said on the earnings call that Q1 was softer than expected “due to March performance.” However, the success of A Minecraft Movie at the beginning of Q2, paired with the optimism following CinemaCon, has bolstered the industry.

The Q1 results also noted that Cineplex welcomed 8.4 million moviegoers and delivered a record Q1 concession per patron (CPP) of $9.13. Additionally, cinema advertising contributed to a 38% increase in media revenues, with a Q1 cinema media per patron of $2.04.

With files from PlaybackOnline