AMC Entertainment Holdings Inc. (NYSE:AMC) has hired Ellen Copaken as vice president of growth strategy, a new position, with the goal of expanding the theater chain’s retail popcorn business.
What Happened: Copaken was previously vice president and general manager of growth channels at Hostess Brands (NASDAQ:TWNK) and senior marketing director for global brand innovation for PepsiCo Inc.’s (NASDAQ:PEP) Frito-Lay brand.
Copaken joins AMC on Feb. 18 and will report to Mark Pearson, the company’s chief strategy officer.
See Also: Money Mitch: These Stocks Are Moving?
Why It Happened: Last November, AMC announced it will be selling its cinema concession staple AMC Theatres Perfectly Popcorn in up to 15 select mall retail outlets, supermarkets and convenience stores during 2022. The company also planned to have its popcorn available through food delivery services and for takeout and/or pickup at its theaters.
The retail element of this strategy will be branded as "AMC Theatres Perfectly Popcorn" stores and will offer a menu of traditional and gourmet-flavored popcorn, candy and other movie venue treats, Coca-Cola (NYSE:KO) Freestyle options and bottled water.
“I have been vocal about our intention to innovate, grow and transform AMC’s business, with our planned venture into the multi-billion dollar popcorn industry being a significant example of our doing so,” said AMC Chairman and CEO Adam Aron, who noted Copaken’s “executive ability combined with her significant grocery experience will be a vital asset to AMC as we explore and deliver on current and future opportunities, starting with our new popcorn initiative.”
Photo: Popcorn picture via AMC, Ellen Copaken picture courtesy of her LinkedIn page.
