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RISK: Cineplex’s Gord Nelson named 2016’s CFO of the Year
The company has had a tumultuous history of acquisitions, mergers and bankruptcy
Carine Abouseif on May 20, 2016
Gord Nelson has been honoured as Canada’s CFO of the Year for 2016 for his work at Cineplex where he’s worked for more than 28 years.
A gala at the Ritz Carlton in Toronto May 19 sponsored by FEI Canada, PwC and Robert Half celebrated the achievements of Nelson, who’s held the CFO title since 2004. When he first took the position, the company’s stock price sat at about $10 a share. It’s since risen to an all-time high of $51.87.
“I’ve been with Cineplex for approximately 28 years,” Nelson told his audience as he accepted the award, “and I’ve seen more than my share of unusual situations.” With deadpan timing, he added,”And I think I think that’s kind of a polite way of saying that part of my tenure was during the Garth Drabinsky era.”
The company has changed hands from Cineplex Odeon Corporation to Onex and Oak Tree, to Cineplex Galaxy Public Income Fund to finally, Cineplex Inc. Throughout those changes, it was also involved in restatements and shareholder lawsuits. Sale to a U.S. firm also took away much of the Canadian workforce. And in 2001, Cineplex Odeon, which was one of the original companies that merged to become today’s Cineplex Inc., filed for bankruptcy.
RISK: Cineplex’s Gord Nelson named 2016’s CFO of the Year
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