CHARLOTTE, N.C. - Six Flags Entertainment Corp. announced that President and CEO Richard A. Zimmerman will step down by the end of 2025.
What we know:
The board has initiated a search for his successor, with Zimmerman continuing to serve until a replacement is appointed. The succession plan was revealed on August 6.
Dig deeper:
The Charlotte-based amusement park operator reported a second-quarter net loss of approximately $100 million and has reduced its full-year adjusted EBITDA outlook. The company is considering the sale of non-core assets to accelerate deleveraging. Management attributed the financial challenges to weaker attendance, a smaller pass base, increased promotions, and widespread weather disruptions. Attendance dropped 9 percent year over year, equating to about 1.4 million fewer visits.
Last month, Six Flags Over Georgia announced it will conclude its 2025 season on November 30 and will not host its Holiday in the Park celebration. The park is reallocating resources to focus on peak spring and fall operations. Fright Fest and Kids Boo Fest will continue as planned, and a new Heroes Fest is set to debut on November 9.
What they're saying:
Executive Chairman Selim Bassoul expressed gratitude to Zimmerman for his leadership during the 2024 merger of legacy Cedar Fair and legacy Six Flags. Zimmerman noted that integration progress is ongoing and highlighted opportunities to further optimize the company's portfolio.
Despite recent challenges, Six Flags reported improved demand in July as weather conditions normalized. The company reaffirmed that merger-related cost synergies are on track, including a target of $90 million in cost reductions for the second half of the year.
The Source: The details in this article come from Six Flags investor relations press releases. Additional information comes from previous FOX 5 Atlanta reporting. This story is being reported out of Atlanta.