(qlmbusinessnews.com . Wed 31st Dec, 2025) London, UK —
Alex Scrimgeour Departs from Everyman Media Group Following Revenue Warning
Everyman Media Group has announced the immediate departure of its Chief Executive, Alex Scrimgeour, less than a month following a warning from the cinema chain of weaker than anticipated trading results.
In a statement released on Monday, the company confirmed that Scrimgeour would be replaced on a temporary basis by Farah Golant, a non-executive director of the firm. This development is hot on the heels of a financial update issued on 10 December, wherein the company revised its revenue and earnings expectations downward, leading to a 20% slump in its share price.
Operating 49 luxury cinema venues across the UK, known for their plush seating and gourmet food offerings, Everyman has been a distinguished player in the UK cinema sector. Scrimgeour took the helm of Everyman Media Group in January 2021, having previously managed the French restaurant chain Cote Brasserie since 2015.
The adjustment in the company's financial outlook earlier this month reflected a less favourable end-of-year trading performance than previously expected. Consequently, the firm now projects revenues of £114.5 million for 2025, with underlying earnings anticipated to be no less than £16.8 million, a dip from the earlier forecasts of £121.5 million in revenue and £19.9 million in earnings.
Philip Jacobson, Chairman of Everyman, lauded Scrimgeour's significant contributions, particularly highlighting his leadership during the company's post-Covid recovery phase, which saw a more than twofold increase in revenue.
AJ Bell's head of markets, Dan Coatsworth, remarked on the challenges faced by Scrimgeour, encompassing a cost-of-living crisis alongside the pandemic, from his very first day in office. Despite a resurgence in the cinema industry's fortunes post-pandemic, Everyman has found it tough to maintain its market dominance.
Coatsworth pointed out that Everyman's once-unique market offering has been emulated by competitors like Vue and Odeon, who have adopted similar features such as reclining seats and the addition of bars within their premises. He also speculated on the future moves of Blue Coast Private Equity, a major shareholder owning a 29% stake in Everyman, pondering whether they might contemplate acquiring the chain outright to execute a revitalisation strategy away from the public eye.
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