YMAGIS (ISIN : FR0011471291, mnemo : MAGIS), the specialist in digital technologies for the cinema industry, announces a new organisation structure with a strengthened management team following the acquisition of dcinex.
The Group’s activities are now organized around three business units:
- « Exhibitor Services », including sales, installation, monitoring and maintenance of projection and sound systems equipment. This business unit will be led by Till Cussmann who previously had the same responsibilities within dcinex ;
- « Content Services », a business unit re-grouping digital content duplication and delivery as well as postproduction activities, will be directly managed by Christophe Lacroix, one of YMAGIS’ co-founders ;
- « VPF / Financing Solutions » will be managed by Pierre Flamant, dcinex’ former Chief Financial Officer, who becomes the CFO for the YMAGIS Group. Pierre Flamant will also be in charge of YMAGIS financial communications.
Other transversal functions will be managed as follows:
- Sébastien Nicolas, who had the same function within dcinex, now becomes responsible for the entire group’s internal Operations, including logistics and purchasing functions ;
- Christophe Piron, formerly responsible for Mergers & Acquisitions within dcinex will now take the lead on YMAGIS « Corporate Affairs », covering external growth, human resources and quality process initiatives ;
- Manel Carreras, currently responsible for YMAGIS’ activities in the UK, will take on the Marketing responsibility for the Group.
YMAGIS has set in place a new Management Committee, responsible for the execution of the strategic guidelines defined by the Board of Directors. This Management Committee is composed of :
- Jean Mizrahi, CEO;
- Jean-Marie Dura, Deputy CEO;
- Christophe Lacroix, Deputy CEO, in charge of Content Services;
- Pierre Flamant, CFO;
- Till Cussmann, VP Exhibitor Services;
- Manel Carreras, SVP Marketing;
- Christophe Piron, VP Corporate Affairs.
For strictly personal reasons, Jean-Marie Dura has decided to leave his current position at YMAGIS. He will therefore leave the Management Committee as of 31 March 2015. From that date onwards, and upon Jean Mizrahi’s request, Jean-Marie Dura has accepted to become the CEO’s advisor and he will be proposed to join the YMAGIS Board of Directors.
Jean Mizrahi, CEO and co-founder of YMAGIS declared: "We are very satisfied with the fast integration of YMAGIS and dcinex. Our teams are now jointly working with very complementary know-how and expertise, which is an invaluable asset for our future development. I also warmly thank Jean-Marie for the energy, passion and dedication to YMAGIS and for his role in YMAGIS recent development. I count on him, in another role, to help the Group leverage on his experience and market knowledge. Our organisation is now fully integrated and ready to benefit from the synergies generated with dcinex".
Jean-Marie DURA added: "It is not without emotion that, after two thrilling years, I will leave my operational functions within YMAGIS. I am proud to have had the opportunity, together with Jean Mizrahi and the teams, to contribute to the growth of the company which has now become the clear European leader. I am very confident in the future of YMAGIS, under such a management and such operational teams which have been strengthened by dcinex".
Forthcoming event: 2014 annual sales, 11 February 2015 after stock market close.
(1) VPF: Virtual Print Fee – fee paid to YMAGIS Group by the supplier of digital content, mainly the distributors of long features, in order to allow the projection of this content in a theater under VPF contract with YMAGIS Group, regardless of the equipment financing model chosen by both parties (Third-Party Investors – financing carried out by YMAGIS Group- or Third-Party Collector –financing carried out by the exhibitor-). The VPF collection makes it possible to cover a significant part of the financing of digital projection equipment, the balance being supported by the exhibitor under contract with YMAGIS Group.
(2) DCP: Digital Cinema Package - group of digital files comprising feature-length films, trailers and commercials, or any other content shown via a digital projector.
(3) KDM: Key Delivery Message, or content’s unlocking key. The distributor sends an electronic message to the exhibitor, containing the key enabling the digital copy (or DCP) to be played.