Bill Ernest Named CEO of Saudi Entertainment Ventures (SEVEN) Company

RIYADH, Saudi Arabia and LOS ANGELES, Nov. 14, 2018 /PRNewswire/ -- The Saudi Entertainment Ventures Company (SEVEN), which is fully owned by the Public Investment Fund (PIF), announces the appointment of Bill Ernest as its new CEO. Ernest will lead and manage all facets of SEVEN, and the execution of the Company's commitment to maximize its investments in the entertainment sector's infrastructure in Saudi Arabia.

Ernest brings an extensive multi-country/region experience for almost 25 years as a senior executive with The Walt Disney Company. His background encompasses expertise in hotel and leisure resort management, most significantly the Disney Parks and Resorts in Orlando and Asia, where he led the launch of new and innovative tourism and entertainment projects.  Most recently he served as president and managing director of Asia for Walt Disney Parks and Resorts where he oversaw the company's parks and resorts operations and development throughout Asia, including Hong Kong Disneyland, Tokyo Disneyland with the Oriental Land Company and Shanghai Disney Resort.

"Bill's unique expertise and extensive skills in the entertainment and hospitality sector, and over two decades in a leadership role at Disney, will enable him to fulfill the company's future aspirations through its four main sectors - Entertainment Complexes, Theme Parks, Movie Theaters, and Family Centers and Specialty Attractions," said The Chairman of the Board of Directors of Saudi Entertainment Ventures Abdullah Al-Dawood. "Furthermore, Bill's long history in development and management of resorts in Hong Kong, Shanghai and Tokyo, and his high standing among his global peers will enhance the company's local and international partnerships for investment and development in the Kingdom's promising entertainment sector."

ABOUT SEVEN:

The Saudi Entertainment Ventures (SEVEN) Company was established by the Public Investment Fund in December 2017. It is the first entity to obtain a license for operating movie theaters in the Kingdom.  The company launched the first cinema in Saudi Arabia after more than 35 years in partnership with U.S. based AMC Group, the largest cinema operator in the world.

As the key investment arm for entertainment on a Kingdom-wide level, The Saudi Entertainment Ventures strategy and focus is the Public Investment Fund commitment to making entertainment and local community lifestyle available across the Kingdom.  The Company is planning to invest in the entertainment sector, increase expansion, diversify the service offering and raise the quality based on international standards, in addition to building capacity and up-skilling local talent in the entertainment field across the Kingdom.

CONTACT: AMY PRENNER ([email protected])

SOURCE Saudi Entertainment Ventures Company

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