from Trung Phan | by Trung Phan

0/ A Redditor digs into the career of AMC's CEO Adam Aron @CEOAdam, who has an impressive track record of turning companies around (it's also a hysterically-written business bio). Here's the story 🧵 t.co/FviIKqZwFh

1/ Quick summary of 66-year old Aron's career: ◻️ Harvard BA / MBA ◻️ Marketing @ Hyatt and United Airlines ◻️ CEO, Norwegian Cruises ◻️ CEO, Vail Resorts ◻️ CEO and part-owner, Philadelphia 76ers ◻️ CEO, Starwood Hotels ◻️ CEO, AMC

2/ Early years as an exceptional student (many references to 'silverback apes'...funniest parts are *bolded*) t.co/HcSllQWxBq

3/ The start of a career in 'fun' industries: Pan Am (1979-85), variety of marketing positions; Western Airlines (1985-87) as VP of Marketing; Hyatt Hotels & Resorts (1987-90) as SVP of Marketing; United Airlines (1990-93) as SVP of Marketing t.co/1V2LNkTAw7

4/ First-time CEO. First company in debt. President and CEO of Norwegian Cruise Line (1993-96): t.co/zhhtbAymS0

5/ Vail Resorts as Chairman and CEO (1996-2006): t.co/WTU3yYhxZg

6/ Turning around 76ers attendance and striking a $12B M&A deal with Starwood Hotels (2006-2015): t.co/5F2dgg292H

7/ AMC Entertainment (2015 - present) t.co/F1uKNhIWSf

8/ Hilariously, the Redditor briefly changed Aron's Wikipedia profile to a more Reddit-friendly corporate profile t.co/mjr7CI2Wfy

9/ In sum: t.co/LVl5RjaOVS

10/ In the recent AMC stock run, Aron has ingratiated himself with Reddit investors: ◻️ He said individual investors own 80% of AMC and he "works for them" ◻️ He donated $100k to the WSB-supported Dian Fossey Gorilla Fund ◻️ Perks program (eg. free popcorn) for investors

11/ AMC is also turning its sky-high stock into cash: In June, it issued millions of shares and raised $800m+ to: ◻️ help pay down a $5B+ debt load ◻️ acquire *more* theatre assets + refurbish existing ones (Whether this is a prudent move is entirely another question) t.co/kDwmRwmdzD

12/ AMC is betting that post-COVID will be boom times for theatres. There are serious headwinds to that thesis but @CEOAdam has a track record (Norwegian, Vail, 76ers, Starwood) of corporate miracles. At a minimum, he's def leaning into the meme: t.co/7VjFwi5bTB

13/ Either way, follow @TrungTPhan for more business-related gold. Here's OP by u/TheNovaeterrae on Aron's career t.co/mdDbmJ3x6t Read Margins for Aron's recent moves t.co/AD135qaqcC