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Theme Parks: Cedar Fair Appoints Two New Members to Its Board of Directors


Related: Cedar Fair Limited Partners Re-Elect Three Directors / Cedar Fair Announces Free Admission to Military Personnel

Cedar Fair (NYSE:FUN) , a leader in regional amusement parks, water parks and active entertainment, announced that it has expanded its board to nine members per its previously announced agreement with Q Funding III, L.P. and Q4 Funding L.P. Eric Affeldt and John M. Scott III have been appointed as Class I Directors of its general partner beginning June 7, 2010, with a term ending 2013.

"We are pleased to have Eric Affeldt and John Scott join our team, " said Dick Kinzel, Cedar Fair’s chairman, president and chief executive officer. "I believe they will provide valuable guidance and expertise for Cedar Fair in this challenging business environment."

Mr. Affeldt is president and chief executive officer of ClubCorp Inc., a position he has held since 2006. Prior to joining ClubCorp, he was a principal of KSL Capital Partners, the private equity firm that purchased ClubCorp in 2006. Mr. Affeldt also previously served as president and CEO of KSL’s former golf division, KSL Fairways; vice president and general manager of Doral Golf Resort and Spa in Miami and the combined PGA West and La Quinta Resort and Club in California; and was a founding partner of KSL Recreation. In addition, he was president of General Aviation Holdings, Inc.

Mr. Scott is president and chief executive officer of Rosewood Hotels & Resorts, a position he has held since 2003. Prior to joining Rosewood Hotels & Resorts, he was the managing director of acquisitions and asset management for Maritz, Wolff & Co., a private equity real estate fund. Mr. Scott began his career with the Interpacific Group where he held senior hotel management positions and in 1994 joined the Walt Disney Company as manager of business development and strategic planning for both the Disney Development Company and Walt Disney Attractions groups.

"We look forward to gaining the benefits of their years of experience and are very fortunate to have them as members of our board of directors, " continued Kinzel.

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.


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