Cineworld has announced the appointment of former Luminar finance director Philip Bowcock as its new chief financial officer. Bowcock, who will become an executive director of Cineworld on 1 December, joined Luminar in 2010 as part of the new management team under Simon Douglas, which sought to address the financial challenges facing the business at that time. The nightclub operator was placed into administration at the end of last month. It is thought that Hugh Osmond is leading the race to acquire the bulk of the ex-Luminar estate, although an eventual break up of the business has not been ruled out. Bowcock’s previous experience includes senior financial roles at Barratt Developments, for Tesco's UK property portfolio, and at the Hilton Group. Stephen Wiener, chief executive of Cineworld, said: “I am delighted that we have been able to attract a new CFO of Philip's calibre. The considerable financial and commercial experience he has gained in a range of multi-site companies in business sectors highly relevant to Cineworld will be of particular benefit to us as we continue to grow.”