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Matt Ouimet, former CEO of Cedar Fair, L.P., steps down from the board of directors

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This sudden move should have everyone thinking one name.  Disney. 

Ouimet played significant roles at Disney in his earlier career.  He developed Disney Cruise Line, oversaw the refreshment of Disneyland in preparation of its 50th anniversary, and was involved in the development of Disney time-share products.  Currently Disney is facing challenges galore.  Speculation circulates Disney may even be broken into two companies--one comprising the Parks/Resorts, retail, licensing of merchandise, and other similar business lines.  Should this come to fruition Disney will be searching for executives to lead the spin-off businesses.  Skill sets Ouimet is uniquely qualified to fill.  

Following Ouimet's tenure at Cedar Fair as an extremely effective and transformative CEO, he was tapped to serve on the Board of Directors in a role created to allow him to seek out development and acquisition opportunities to grow Cedar Fair.  In this new role Cedar Fair failed to make any significant park acquisitions until 2019 when it was announced two Schlitterbahn Waterparks and Resorts in Texas would be acquired.  Quickly thereafter Cedar Fair announced the acquisition of Sawmill Creek hotel, golf course, and marina in the Sandusky area.  These acquisitions are minor when compared to the sale of Great America property in California with only an 11 year operating sale-lease-back agreement in place.

Read this quote from the Cedar Fair announcement of Ouimet's departure carefully:

“I am extremely grateful to have been a member of the Cedar Fair management team and board of directors,” said Matt Ouimet. “I have great confidence in the Company’s current leadership team and will enjoy following their future successes.”

Could Ouimet be foreshadowing a similar future role with another company overseeing acquisitions and development of entertainment, waterparks, amusement parks, and resorts?  A position in which he would be looking for strong management teams overseeing portfolios of desirable cash flow positive properties ripe for application of Intellectual Property assets to leverage value, attendance, and profitability? 

If so, Ouimet would be keen to "enjoy following [Cedar Fair's] future successes" and possibly being a part of that bright future. 

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  • CoastersRZ changed the title to Matt Ouinet, former CEO of Cedar Fair, L.P., steps down from the board of directors
  • BoddaH1994 changed the title to Matt Ouimet, former CEO of Cedar Fair, L.P., steps down from the board of directors
3 hours ago, Tr0y said:

Proof reading is fairly simple too, just ask any credible PR person who has spent 5 minutes in the role. :P

Some have demonstrated that it’s not terribly important. I’m just following the industry trends. :D

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