Six Flags has announced that Richard A. Zimmerman, president and CEO and member of the Six Flags Board of Directors will step down as the Company’s president and CEO by the end of 2025.
The company has stated that Zimmerman will continue to serve as president and CEO until the Board has appointed a successor.
The Six Flags Board of Directors has initiated a process to identify the Company’s next CEO with the assistance of a leading global executive search firm, and both internal and external candidates will be considered.
“Unwavering passion and dedication”
“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 optimise the Company to deliver greater value to our guests, associates, and our shareholders.
“Despite recent economic uncertainty and weather headwinds, we are confident Six Flags has the right strategy in place to drive meaningful long-term growth and achieve our objectives of increasing Adjusted EBITDA, reducing net leverage, and successfully delivering on integration efforts to create value for shareholders.”
Meanwhile, Zimmerman commented: “The Company has significantly evolved since I first joined what was then Paramount Parks, Inc. in 1987, and it has been an honour 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.”
“Significant progress on our integration efforts and cost synergy goals”
“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. 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.
“We are reaching more guests than ever before and continuing to advance our strategic priorities, which I am confident will enable Six Flags to drive tremendous value creation over the long term.
“Together we have built a global leader in family entertainment with a resilient business model and bright prospects, and I look forward to supporting the team to help ensure the Company achieves its full potential.”
The news comes at the same time as confirmation of Six Flags’ declining profits – the theme-park operator reported a seven-figure drop in visitors.
The company’s shares decreased by more than 15 percent as revealed in its second-quarter results.
Six Flags confirmed a net loss of around $100 million, compared with profits over $55 million in the same quarter in 2024. In the same period, attendance of 14.2 million, below market expectations of more than 15 million, dropped by nine percent, with around1.4 million fewer visitors at its parks.
Image: Six Flags
