- After six years on the job
- Ouimet will remain as executive chairman at Cedar Fair
- Ouimet spoke at length and said 138 words
(exechange) — Sandusky, Ohio, October 05, 2017 — Matt Ouimet, chief executive of Cedar Fair, hands over the reins. As announced by Cedar Fair Entertainment Company in a news release published on Wednesday, October 04, 2017 and in a regulatory filing published on Thursday, October 05, 2017, Matthew A. (Matt) Ouimet leaves the post as chief executive officer at the amusement-resort operator after six years on the job, effective December 31, 2017.
Ouimet’s duties are taken over by Richard Zimmerman, currently president and chief operating officer at Cedar Fair Entertainment Company.
“To ensure continuity in leadership”
The management change is explained as follows. Cedar Fair said: “These changes are designed to ensure continuity in leadership as the Company pursues its ongoing strategy of investing in broadening entertainment offerings and new attractions to create greater excitement for guests, and positioning itself to produce strong results for many years to come.”
Ouimet will remain as executive chairman at Cedar Fair
On January 1, 2018, Ouimet will take the newly created role of executive chairman of the board of directors and Debra Smithart-Oglesby will become lead independent director.
As part of this process, Zimmerman will also be added to the board of directors during the 2018 annual meeting period.
Share price rise since February 2009
The change follows a rise in the share price of Cedar Fair Entertainment Company since February 2009.
Chaired by Eric Affeldt
Cedar Fair Entertainment Company is chaired by Eric Affeldt.
Affeldt was selected as the non-executive Chairman of the Board in 2012 and has served as a Director since 2010.
On the job as CEO since 2012
Matthew A. Ouimet has been chief executive officer since January 2012 and a member of the Board of Directors since August 2011, and was president of the Partnership’s General Partner from June 2011 to October 2016.
Ouimet was president and chief operating officer for Corinthian Colleges, a publicly traded company that owns and manages for-profit colleges throughout the United States and Canada, from July 2009 to October 2010 and was executive vice president-operations for Corinthian Colleges from January 2009 to June 2009.
Prior to joining Corinthian Colleges, he served as president, Hotel Group for Starwood Hotels and Resorts Worldwide from August 2006 to September 2008.
Before joining Starwood, Ouimet spent 17 years at The Walt Disney Company, where he last served as President of the Disneyland Resort.
He also served in a variety of other business development and financial positions during his employment with Disney, including president of Disney Cruise Line and executive general manager of Disney Vacation Club.
Read the full story in the exechange report 41.2017 ($).