USA: Selim Bassoul Appointed Chairman Successor by Six Flags Board

US theme and water park operator Six Flags announced that 63-year-old Selim Bassoul has been elected by the board of directors to succeed Richard Roedel as non-executive chairman. It has previously been announced that Roedel would not stand for re-election to the board at the company’s annual shareholder meeting in May 2021. In the coming months, Roedel and Bassoul will work together on a transition concept.

“I want to thank and congratulate Rich for his eleven years of service as a director, and ultimately chairman, of the board”, said Mike Spanos, President and CEO. “Rich has brought tremendous wisdom and judgment to our board during a time of transformation and growth. He has led the board with integrity and always with the best interests of our shareholders, guests, and team members in mind.”

Selim Bassoul joined S0ix Flags’ board of directors in February 2020 (cp. EAP news of 28 Feb 2020). According to the company’s most recently released financial results, the operator suffered significant losses due to the Covid-19 pandemic: In the third quarter, total revenues declined by 81 percent with only 2.6 million visitors recorded at the parks (14 million in Q3 of 2019). Of the 26 parks operated by Six Flags in the USA, Canada and Mexico, nine were completely closed in this period of time. (eap)