--- title: IMAX names new chief financial officer publisher: "IMAX" description: "TORONTO, April 5 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ:IMAX; TSX:IMX) today announced its appointment of Joseph Sparacio to the position of Executive Vice President of Finance. Mr. Sparacio is expected to assume the duties of Chief Financial Officer in May and will be based in the" canonical: "https://www.imax.com/pr/imax-names-new-chief-financial-officer" date: 2007-04-05 last_updated: 2007-04-05 --- IMAX names new chief financial officer ====================================== Thu, Apr 5, 2007 TORONTO, April 5 /PRNewswire-FirstCall/ - IMAX Corporation (NASDAQ:IMAX; TSX:IMX) today announced its appointment of Joseph Sparacio to the position of Executive Vice President of Finance. Mr. Sparacio is expected to assume the duties of Chief Financial Officer in May and will be based in the Company's New York office where he will report to IMAX co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler. Edward MacNeil, who currently serves as the Company's Interim Chief Financial Officer, will continue in a senior financial role based in the Company's Toronto office. "Joe is a seasoned veteran with in-depth knowledge of the entertainment industry with experience and expertise in managing core financial functions within a dynamic environment, as indicated by his long and successful career to date," said IMAX co-Chairmen and co-CEOs Richard L. Gelfond and Bradley J. Wechsler. "We strongly believe that Joe is the right person to lead our financial team and will serve us well in 2007 and beyond." Since June 2002, Mr. Sparacio served as Senior Vice President and Chief Financial Officer for the programming company iN Demand L.L.C.. From 1998 to 2002, Mr. Sparacio served as Vice President of Finance and Controller for Loews Cineplex Entertainment Corporation. From 1994 to 1998 Mr. Sparacio served as Vice President, Finance and Controller of Loews Theatre Management Corp., and from 1990 to 1994 he served as Controller. Prior to joining Loews, Mr. Sparacio spent eight years with Ernst & Young. Mr. Sparacio is a certified public accountant and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. Messrs. Gelfond and Wechsler continued, "This appointment also gives us the opportunity to express our gratitude to our colleague Ed MacNeil, who has been serving as IMAX's interim CFO over the course of the past six months. Ed has demonstrated an outstanding level of commitment and leadership during a challenging period, and we look forward to his continuing contributions as he works with Joe in multiple areas." About IMAX Corporation IMAX Corporation is one of the world's leading entertainment technology companies, specializing in digital and film-based motion picture technologies. The worldwide IMAX(R) network is among the most important and successful theatrical distribution platforms for major event Hollywood films around the globe, with IMAX theatres delivering the world's best cinematic presentations using proprietary IMAX, IMAX(R) 3D, and IMAX DMR(R) technology. IMAX DMR is the Company's groundbreaking digital remastering technology that allows it to digitally transform virtually any conventional motion picture into the unparalleled image and sound quality of The IMAX Experience(R). IMAX's renowned projectors display crystal-clear images on the world's biggest screens, and the IMAX brand is recognized throughout the world for extraordinary and immersive entertainment experiences for consumers. As of September 30, 2006, there were 280 IMAX theatres operating in 40 countries. IMAX(R), IMAX(R) 3D, IMAX DMR(R), IMAX MPX(R) and The IMAX Experience(R) are trademarks of IMAX Corporation. More information on the Company can be found at www.imax.com. This press release contains forward looking statements that are based on management assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Important factors that could affect these statements include the outcome of the accounting review and related matters discussed in this press release, the timing of theatre system deliveries, the mix of theatre systems shipped, the timing of the recognition of revenues and expenses on film production and distribution agreements, the performance of films, the viability of new businesses and products, risks arising from potential material weaknesses in internal control over financial reporting, the ability to satisfy the reporting covenant by the amended filing deadlines, risks associated with the inability to obtain the requisite consents, the extent and impact of the restatement of our financial statements and fluctuations in foreign currency and in the large format and general commercial exhibition market. These factors and other risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2005. SOURCE IMAX Corporation -0- 04/05/2007 /CONTACT: Media: IMAX Corporation, New York, Sarah Gormley (212) 821-0155, sgormley@imax.com; Entertainment Media: Newman & Company, Los Angeles, Al Newman (310) 278-1560, asn@newman-co.com; Investors: Integrated Corporate Relations, Amanda Mullin, (203) 682-8243; Business Media: Sloane & Company, New York, Whit Clay, (212) 446-1864, wclay@sloanepr.com/ (IMX. IMAX) CO: IMAX Corporation ST: Ontario IN: ENT FLM SU: PER -30- MP -- TO357 -- 8836 04/05/2007 07:30 EDT http://www.prnewswire.com