Six Flags’ president and CEO Richard Zimmerman is to step down from his role by the end of this year, the company has announced.
Zimmerman will continue as Six Flags‘ interim president and CEO until the board has appointed his successor. He will also remain on the board as a director.
Per a statement, the Six Flags board has started a process to identify a new leader, and is being assisted by an executive search firm. Internal and external candidates will be considered for the role.
“On behalf of the board, I want to thank Richard for his leadership and contributions since the successful merger of the legacy Cedar Fair and Six Flags companies last July, and for his unwavering passion and dedication to our industry over the last 38 years,” said Selim Bassoul, executive chairman of the board.
“As CEO, Richard has successfully led Six Flags through a period of significant evolution, with a clear vision to optimize the company to deliver greater value to our guests, associates, and our shareholders.”
Zimmerman said it has been “an honor to have led such talented teams through critical and transformative periods over the years – not only for our company, but for the entire amusement park industry”.
Six Flags succession plan
“Since completing the merger of legacy Cedar Fair and legacy Six Flags a little more than a year ago, we have made significant progress on our integration efforts and cost synergy goals,” he added.
“That said, there remains an immense opportunity to further optimize the portfolio and unlock the full value of the company’s unique assets and intellectual property.”
Bassoul said the company is “committed to ensuring a smooth transition” and will conduct “a thorough and comprehensive search to identify the best individual to lead Six Flags into the future”.
“We are focused on identifying a strong leader with a proven track record of operating successfully at scale while defining and executing a growth strategy driven by innovation, operational excellence, and world-class talent development,” he added.
As well as announcing Zimmerman’s departure, Six Flags has announced its financial results for the second quarter of this year, reporting overall revenue of $930 million, operating income of $74m, net loss of $100m, and 14.2 million guests at its parks.
Although year-over-year comparisons are hard to make following the merger with Cedar Fair, Six Flags said the second-quarter results were affected by adverse weather.
Images courtesy of Six Flags
