Damian Keogh, the CEO of Val Morgan Cinemas, has been named chief executive of the Hoyts Group with incumbent Delfin Fernandaz to retire after nearly nine years in the role.
Keogh, who has been credited with helping to turn around the fortunes of Val Morgan, will retain his responsibilities with the group.
He said in a statement: “Hoyts is an iconic Australian brand and I am excited about the opportunities in the filmed entertainment business generally. Hoyts is well positioned to profit from the changes we are seeing in the industry, both at the cinema and in our growing home entertainment business.”
Since he joined in 2011 Val Morgan has seen revenues grow 20 per cent each year, while the Val Morgan Retail out-of-home arm has grown by over 60 per cent in the past two years.
“Damian has demonstrated outstanding leadership at Val Morgan over the last two and a half years,” said David Kirk, chairman of the Hoyts Group
Simon Pillar, managing director of Pacific Equity Partners – the private equity firm that advises funds that own the Hoyts Group – said Fernandez had been working with Keogh to assist the transition and he will continue to work with him until March 31.
“Delfin has done an excellent job for Hoyts during his time as chief executive and in recent months he has worked with Damian to increase his understanding of the exhibition business. We are very grateful to Delfin and wish him every success in the future,” he said.
“Damian is a proven high performer and we look forward to him bringing the same leadership and skill he has shown at Val Morgan to the wider Hoyts Group.”
Before he joined Val Morgan Keogh was was national sales director at the Multi Channel Network (MCN) for seven years.