COLUMBUS, GA - Carmike Cinemas, Inc. (NASDAQ: CKEC) announced today the departure of its chief executive officer and president, Michael W. Patrick, effective Monday, January 19, 2009. Mr. Patrick remains a member of Carmike's board of directors.
The board of directors has appointed S. David Passman III, currently Carmike's lead independent director, as the non-executive chairman of the board of directors. In addition, the board of directors has established an Office of the Chairman. The Office of the Chairman will focus on the strategic direction of Carmike and transition Carmike to new chief executive leadership. The Office of the Chairman will include Mr. Passman, as non-executive chairman of the board, Fred W. Van Noy, Carmike's chief operating officer, and Richard B. Hare, Carmike's chief financial officer.
"We thank Michael for his service to Carmike," said Mr. Passman. "I am honored to have the opportunity to work closely with my fellow board members and Carmike's senior management team as non-executive chairman to seek new opportunities to create shareholder value. I have confidence in our team at Carmike and believe the company is poised to take full advantage of the opportunity presented by digital cinema. We are optimistic about Carmike's future."
Mr. Passman, 56, has been a member of Carmike's board since June 2003 and currently serves as a member of the audit, executive and compensation and nominating committees. Mr. Passman recently retired from his position as the president and chief executive officer of IBS-STL, Inc., a book publishing and distribution company, where he has served since June 2005.
Previously, Mr. Passman served as the president of the Harland Printed Products and Harland Checks divisions of John H. Harland Company, a provider of printed products and software and related services to the financial institution market, from 1999 to 2003. He served as Harland's chief financial officer from 1996 to 1999. Mr. Passman is a former partner of Deloitte & Touche LLP, where he served as the Managing Partner of the Atlanta office from 1993 to 1996.