- Push-out Score suggests push-out forces
- After less than a year and a half on the job
- Praise, thanks and good wishes for Duffey
- Jim Reid-Anderson taking over
(exechange) — Grand Prairie, Texas, July 18, 2017 — John Duffey, chief executive of Six Flags, leaves the position. It is an abrupt change. As announced by Six Flags Entertainment Corporation in a news release on Tuesday, July 18, 2017, John M. Duffey leaves the post as Chief Executive Officer at the amusement park company in a surprising move after less than a year and a half on the job, effective immediately.
No company wants a CEO to flame out in the first years.
Duffey’s duties are taken over by Jim Reid-Anderson, most recently Executive Chairman at Six Flags Entertainment Corporation.
No reason given
In the announcement, Six Flags did not explicitly explain the obviously compelling reason for Duffey’s sudden move, opening the door for speculation.
Precise information about the future plans of Duffey was not immediately available.
Generally speaking, it is often an alarm signal for shareholders when a CEO leaves the position abruptly and without an understandable explanation.
Six Flags said: John M. Duffey “has retired from the company”.
H Partners holds 14.97 percent stake
H Partners Management, LLC reported a 14.97 percent stake in Six Flags Entertainment Corporation as of March 30, 2017.
On the job as CEO since 2016
John M. Duffey was named President and Chief Executive Officer, and a Director of Six Flags in February 2016.
From September 2010 to February 2016, he served as Chief Financial Officer of the company.
Duffey previously served as Executive Vice President and Chief Integration Officer of Siemens Healthcare Diagnostics from November 2007 to January 2010, and was responsible for leading the integration of Siemens Medical Solutions Diagnostics and Dade Behring.
Prior to Dade Behring’s acquisition by Siemens AG, from 2001 to November 2007, Duffey served as the Executive Vice President and Chief Financial Officer of Dade Behring Inc., where he negotiated and led the company through a debt restructuring and entry into the public equity market.
Prior to joining Dade Behring, Duffey was with Price Waterhouse in the Chicago and Detroit practice offices as well as the Washington D.C. National Office.
Duffey holds a B.A. degree in Accounting from Michigan State University.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered John Duffey’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 30.2017 ($).