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Thursday, Feb 29, 2024

New Chief Executive Takes Helm at Panavision

Panavision Inc. announced Wednesday it has named Kimberly Snyder as the company’s chief executive, the fifth time since 2009 the venerable Hollywood supplier of cameras and lenses has made a change in leadership. Snyder comes to the Woodland Hills company from Eastman Kodak Co. where she had been president and general manager of the Entertainment Imaging Division, responsible for all business with the motion picture and television industry. “I’m honored to join the Panavision team and look forward to leading the company as we strive to serve the needs of cinematographers, production companies and studios around the world in new and exciting ways,” Snyder said in a prepared statement. Snyder replaces John Suh, who had been promoted to the top Panavision job last year after serving in several executive positions, including chief financial officer and chief operating officer. The turnover in the chief executive position began in March 2009 following the departure of long-time chief executive Bob Beitcher. Beitcher’s replacement, Billy Campbell, resigned after less than three months. Bill Bevins, a director of M & F Worldwide Corp., a division of MacAndrews & Forbes Holdings Inc., which then owned Panavision, replaced Campbell. Bevins stepped aside in June of last year for Suh to take the chief executive position. The change in leadership coincides with financial struggles at Panavision, which was hit hard by the 2007-2008 Writers Guild of America strike, a production slowdown during contract negotiations between the Hollywood studios and the Screen Actors Guild, and the recession. During that period, ownership of Panavision was taken over by its creditors, which includes New York private equity firm Cerberus Capital Management. Canyon Capital Advisors of Los Angeles is another investor in the company.

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