Cineworld bosses’ £27m to leave stricken chain

Cineworld’s boss and his top management team will be paid up to £27m combined to leave the cinema operator after it emerges from Chapter 11 proceedings next month.

Lenders have committed to pay Mooky Greidinger, his brother and deputy chief Israel Greidinger, chief financial officer Nisan Cohen and chief commercial officer Renana Teperberg between £23m and £27m in cash within a year of their exit, according to the Financial Times.

Cineworld declined to comment.

The world’s second-largest movie theatre chain operator after AMC Entertainment expects to emerge from bankruptcy protection in July.