Six Flags ousts CEO

Editor's note: Justin Dietz is a Register correspondent representing CPFoodBlog.com and @FUNFoodBlog on X. Six Flags Entertainment Corp., the largest regional amusement park operator in North America and parent company of Cedar Point, on Wednesday announced that Richard Zimmerman — president, CEO and member of Six Flags' board of directors — will step down as the company's president and CEO by the end of 2025. This comes on the news of weaker second-quarter revenue results. Revenue for the quarter came in at $930 million, below the $1.03 billion predictions. This includes $243 million of earnings before interest, taxes, depreciation and amortization, of which legacy Cedar Fair parks, including Sandusky-based Cedar Point, accounted for $181 million. An announcement regarding Zimmerman's impending departure comes a little more than a year after Cedar Fair and Six Flags completed a merger. It created the largest and most diverse amusement park operator in North America. Prior to the merger in July 2024, Cedar Fair operated 15 parks, including separately gated water parks, while Six Flags operated 26. To put that in comparison, the legacy 15 parks brought in $181 million of earnings before interest, taxes, depreciation and amortization, yet 26 legacy Six Flags parks did only $62 million. This appears to indicate legacy Cedar Fair parks are doing quite well with a lot of work yet to be done to bring Six Flags parks up to the same level of service. "The start of the 2025 season, including our second-quarter results reported today, fell significantly short of our expectations, a disappointing outcome given the solid progress we achieved post-merger with smart, early-stage initiatives coupled with a very compelling capital program," Zimmerman said. Second quarter attendance was up 1% year-over-year to 11 million guests. But the in-park per capita spending was down approximately 4%. This is concerning when considering the big push for cheap gold passes that just went on sale across the Six Flags parks. While it is great for the consumer to be able to get year-round access to the amusement parks, as proven by the quarter statistics, increased attendance does not always mean increased revenue. Six Flags said second-quarter performance was hurt by "unfavorable weather across most of the company's key markets," including extended periods of rain, extreme heat and severe storms. Zimmerman has been with Six Flags since 1987, starting out with then-Paramount Parks. He became CEO of Cedar Fair in 2018, remaining in this position after the merger. To ensure leadership continuity and a smooth transition, Zimmerman will continue to serve as president and CEO until the board has appointed a successor. He will also continue to serve as a director on the company's board. 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.