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The Board of Directors of Cedar Fair Entertainment Company, a leader in regional amusement parks, water parks and active entertainment, announced that it has retained Korn/Ferry International, one of the world’s leading executive recruiting firms, to assist the Company with the final phase of its previously announced and ongoing succession planning process.
Among other things, Korn/Ferry will work with the special committee of independent directors of the Cedar Fair Board, which includes C. Thomas Harvie, David L. Paradeau and John M. Scott III, to identify and evaluate qualified candidates to succeed current Chief Executive Officer Dick Kinzel, whose employment agreement expires on January 2, 2012. This confidential process will include both internal and external candidates and is expected to be completed by the end of the second quarter of 2011.
“Today’s action is an important step toward the completion of our thorough process for a seamless leadership transition, ” said Tom Harvie, Cedar Fair’s lead director of the special committee. “We look forward to working with Korn/Ferry to identify and evaluate candidates who can help lead the Company in its plan to deliver long-term growth and value creation.”
Harvie said that, out of fairness to all involved and to maintain the confidentiality of the process, the Company would not comment further on the process or any candidates under consideration until a successor is named.
About Korn/Ferry International
Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit www.kornferry.com for more information on the Korn/Ferry International family of companies, and www.kornferryinstitute.com for thought leadership, intellectual property and research.
About Cedar Fair
Cedar Fair is a publicly traded partnership headquartered in Sandusky, Ohio, and one of the largest regional amusement-resort operators in the world. The Company owns and operates 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. Amusement parks in the Company’s northern region include two in Ohio: Cedar Point, consistently voted “Best Amusement Park in the World” in Amusement Today polls, and Kings Island; as well as Canada’s Wonderland, near Toronto; Dorney Park, PA; Valleyfair, MN; and Michigan’s Adventure, MI. In the southern region are Kings Dominion, VA; Carowinds, NC; and Worlds of Fun, MO. Western parks in California include: Knott’s Berry Farm; California’s Great America; and Gilroy Gardens, which is managed under contract.
