What’s going on with AMC Entertainment (NYSE:AMC) today? Shares of AMC stock are up over 5% on the day. The movie theater chain recently announced that Ellen Copaken will be joining AMC’s executive team as the vice president of Growth Strategy, effective Feb. 18. Copaken previously served as an executive for Pepsi (NASDAQ:PEP), Frito-Lay and Hostess Brands (NASDAQ:TWNK).
So, who exactly is Ellen Copaken? According to her LinkedIn profile, Copaken graduated from the University of Pennsylvania with a BA in communications and linguistics. Afterward, Copaken went on to receive her MBA in marketing from The Wharton School at the University of Pennsylvania.
Before joining AMC, Copaken served as the managing director and partner of the Sterling-Rice Group. At Sterling-Rice, Copaken was in charge of strategic oversight and account management in the “Food & Beverage, Retail, Household Goods, Foodservice and Hospitality industry verticals.”
AMC Stock: Copaken to Head AMC’s Perfectly Popcorn Efforts
Copaken will likely be in charge of AMC’s new popcorn initiative. AMC announced last November that it has plans to “capture a piece of the growing multi-billion dollar popcorn market.” Starting this year, AMC will begin to install popcorn kiosks and stores at select locations, like mall retail stores. The popcorn, called “AMC Theatres Perfectly Popcorn,” will be sold alongside other AMC food products.
Later in 2022, AMC plans on selling prepackaged and/or microwaveable popcorn at supermarkets and convenience stores across the country. AMC plans on opening up to 15 retail stores by the end of the year. In addition, AMC adds that “significantly more locations are expected to open in 2023 and beyond.”
Furthermore, AMC plans on allowing customers to order popcorn directly from a nearby theater location to their desired location. AMC will utilize “existing delivery-to-home mobile services” to enact this plan. As a result, fans of AMC are wondering whether the company will team up with the likes of Uber Eats (NYSE:UBER) or DoorDash (NYSE:DASH).
AMC CEO Adam Aron commented that:
“On our busiest days, AMC Theatres currently pops in the range of 50 tons of popcorn per day. But the popularity of popcorn extends well beyond the doors of our movie theatres. With this new AMC initiative, we expect to reach entirely new segments of the U.S. population with our popular AMC Theatres Perfectly Popcorn.”
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
