Former Cedar Fair CEO gets candid

Editor's note: Don Helbig is a Register correspondent representing themeparksbydon.com. SANDUSKY — Earlier this week, former Cedar Fair CEO Matt Ouimet published a candid post on LinkedIn, offering insights into corporate governance and leadership for those early in their careers. "I don't post this with an expectation that it will cause change," Ouimet wrote. "I do it in the spirit of educating those who are early in their leadership careers, as I believe there is value in sharing how the real world works." In his post, Ouimet reflected on his time at Cedar Fair, noting that when he joined the company, "unique circumstances forced us to replace the majority of the board members. They weren't bad people, but they had overseen a proposal to sell the company that was opposed by a large number of shareholders and, therefore, lacked the votes to get re-elected." Ouimet praised the executives brought in afterward, saying they "ended up being impressive thought partners for our leadership team." He continued: "They brought experience and expertise that was additive to our team. They challenged our thinking and had a demonstrable impact on the strategic direction of the company. They were also committed to holding the leadership team accountable for the commitments we made, and I always believed that they felt just as much ownership in the results as we did." Ouimet emphasized the importance of a productive board. "It wasn't as if we didn't have significant disagreements, but, in the end, I can't recall any instances where once the path was agreed upon, they second-guessed us later," Ouimet wrote. "That is how a board is supposed to perform." He contrasted his experience at Cedar Fair with what he observed at Six Flags, stating, "For years before the merger, it wasn't clear to me that the Six Flags board members felt ownership in the results that were produced." "Cycling through CEOs, producing overly optimistic projections and overseeing rapid value destruction while maintaining their seats were obvious clues," he wrote. "Post-merger, it appears the historical pattern continues." Ouimet also commented on the current Six Flags board as it prepares to hire a new CEO. "Even under the best of circumstances, it is unlikely that this board would function productively," he wrote. "The company is troubled and has big decisions to make. I'm hoping that one of those decisions is acknowledging reality and giving the new CEO an opportunity to retire some board members and replace them with people who have proven track records with analogous businesses and demonstrated leadership qualities that will make them strong thought partners. He or she deserves this as a foundation for moving forward." He concluded with a personal note, quoting a friend: "A friend of mine has another phrase for acknowledging reality, 'Saying the quiet thing out loud.'"