USA: Jim Reid-Anderson New Chairman, President & CEO of Six Flags Entertainment
Jim Reid-Anderson
As officially confirmed by Six Flags Entertainment Corp, Jim Reid-Anderson has been re-appointed Chairman, President and CEO of Six Flags effective immediately, replacing John M. Duffey who has retired from the company. Reid-Anderson formerly served as Chairman, President and CEO of Six Flags from August 2010 through February 2016 and has been serving as Executive Chairman of the company since February 2016 (cf. EAP news from March 3rd, 2016).
“Six Flags is the leading regional theme park company in an extremely attractive industry, and we have significant global growth opportunities in the short, medium and long term. I am very proud and excited to rejoin the operating team and look forward to executing our business strategy. We have had seven record years in a row and I believe that the best is yet to come. I do want to wish John all the very best for the future and to thank him for his major contributions during his excellent tenure with the company, including his time as president and CEO,” said Reid-Anderson.
Beside the announcement with regard to its Executive Board, last week Six Flags presented its financial results for the quarter ended June 30th, 2017: According to the company, revenue increased 15 million US Dollar (approx. 12.7 million Euro) as compared to the same period in 2016, to a total of 422 million US Dollar. As a reason the group indicates an increase in attendance of five percent to 9.5 million guests and an 18 percent increase in sponsorship and international licensing revenue, partially offset by a two percent decline in guest spending per capita. One reason for this is seen in the rainy weather on the East Coast and in Texas, which negatively impacted attendance in the second quarter. Furthermore, net income decreased nine million US Dollar (approx. 7.7 million Euro) or 15 percent and diluted earnings per share decreased eight percent to 0.59 US Dollar (0.50 Euro) for the quarter, primarily due to a 37 US Dollar (approx. 31.50 Euro) charge related to the early retirement of debt in April 2017 when the company issued new senior notes and used the proceeds to redeem then-outstanding senior notes. (eap)
