Cinedigm Digital Cinema Corp. co-founder A. Dale "Bud" Mayo retired as CEO and president of the company, effective immediately. Mayo will continue as chairman of the board.

Adam M. Mizel, who currently serves as the company's chief strategy and chief financial officer, and Gary S. Loffredo, who currently serves as senior VP of business affairs and general counsel, will assume the additional role of interim co-chief executive officers, with responsibility for day-to-day management of the company. The board has retained Korn/Ferry International to assist in identifying candidates from which to select a permanent CEO.

Mayo said, "When I founded Cinedigm, my vision was to build an innovative and important company that was on the cutting edge of the transformation of the movie business to digital. Now ten years later, I could not be more proud of what we have created. We have developed into the industry leader in providing the essential services, content and technology that allow for the transformation of movie theatres into networked entertainment centers. We have steadfastly supported both our studio and exhibitor partners as they offer their customers a fantastic digital experience. With digital conversion accelerating and a strong fiscal year 2010 just completed, I leave the company on a solid trajectory of growth and I look forward to my retirement."

Prior to founding Cinedigm in 2000, Mayo had a distinguished career in the exhibition industry, during which he co-founded Clearview Cinema Group in 1994, which was sold to Cablevision in 1998. He served as CEO and president of Cablevision Cinemas from 1998 to 2000.

"We are proud to lead Cinedigm during this transition period," commented Mizel and Loffredo. "Cinedigm has made outstanding progress in its first decade, largely due to the leadership and dedication of Bud Mayo. We look forward to working with our strong management team to continue driving forward on our strategies for growth."

Cinedigm also announced that it has expanded its financial advisory relationship with EFA Partners and that Ralph Willis, one of the founders of EFA, will dedicate a significant portion of his time to support Mizel and Loffredo in overseeing the company's financial operation and activities during the transition period.