Soon-to-be ex-Wanda Group executive Jack Gao plans to resign from the board of Wanda-owned AMC Entertainment Holdings, the parent company of AMC Theatres, the company announced in a Friday afternoon SEC filing.
“On October 27, 2017, Jack Q. Gao provided AMC Entertainment Holdings, Inc. (“AMC”) with notice of his intent to resign as a Director of AMC effective immediately,” the filing said. “Mr. Gao resigned in connection with his resignation from all positions with certain affiliates of AMC’s controlling stockholder, Dalian Wanda Group Co., Ltd., and his resignation did not involve any disagreement between him and AMC on any matter related to AMC’s operations, policies, practices or otherwise. Mr. Gao served as a Class III Director of the Board of AMC and as the chairman of the Compensation Committee of AMC. The Board of Directors of AMC has not appointed a replacement for Mr. Gao at this time.”
Gao announced plans to leave his positions as a Wanda executive and the interim CEO of Legendary Entertainment last week. He had filled in as Legendary’s placeholder CEO since founder Thomas Tull departed earlier this year.
At the time, an individual close to Wanda told TheWrap Gao left due to government policies that have cracked down on overseas investment, and it was an amicable split. The individual also said Wanda is committed to Legendary and Hollywood for the long term and is still looking for a permanent CEO.