Richard Zimmerman named new CEO for Cedar Fair

[IndyGuy4KI]

https://www.cedarfair.com/news/article/2017-104-leadership-succession

Read more of the release on the link.

Quote

Cedar Fair Announces Planned Leadership Succession

10/04/2017
• Richard Zimmerman, president since 2016, to become CEO effective January 1, 2018
• Matt Ouimet, CEO since 2012, to become executive chairman of the board of directors
• Debra Smithart-Oglesby, board member since 2012, to become lead independent director

SANDUSKY, OHIO, October 4, 2017 -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that Richard Zimmerman, its president and chief operating officer, will succeed Matt Ouimet as chief executive officer effective January 1, 2018. On the same date, 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. 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.

“I have very much appreciated the opportunity to serve as the CEO of Cedar Fair and I am proud of what our team has accomplished,” said Ouimet. “The market value of Cedar Fair has increased by more than $2.6B during my time at the company. This performance provides us with a solid foundation to build upon and a positive outlook for the future. Richard is a perfect choice to succeed me as CEO and I look forward to continuing to partner with him as the executive chairman going forward.”

 

https://mma.prnewswire.com/media/567190/Cedar_Fair___Richard_Zimmerman.jpg?w=800

[Creed Bratton]

I'm not really sure how to react to this....a former Paramount guy......will he bring back the "old paramount days" or will things be headed toward a more positive direction? I feel as if the old paramount days were to come forward again.....with story driven attractions....we may be seeing rides billed to be these amazingly themed attractions to then be let down a few years after the open, ala Italian Job, Tomb Raider The Ride, etc.

[CoastersRZ]

I don`t think much will change. 

Keep in mind that with Mystic Timbers, there was a story to that attraction...  I don`t think we will see story driven attractions with outside IP beyond what we have already seen from CF.

[JAHill]

Clearly this move coincides with Iger's stepping down.

Iger-Ouimet 2020 ticket coming soon.

[Aaron88stang]

Hopefully CF continues on a similar path as under Mr. Ouimet. He has done of a heck of a job. 

[rhyano]

This move is interesting, I really like what they have done with Mystic Timbers, I like the idea of themeing rides that are not IPs and are the parks own rights, but as @chugh43 said, I'm not sure about how I feel about a Paramount general manager coming in, I'm hoping he stays away from trying to bring outside IPs into the parks (there's no indication he will or won't, just thoughts.) I'd be down for more themed experiences and attractions though, I don't think anything will change that much or that dramatically.

4 hours ago, JAHill said:

Clearly this move coincides with Iger's stepping down.

Iger-Ouimet 2020 ticket coming soon.

Also, I'll second this. 

[TheRickster]

They aren't going to bring outside IPs into the park. Paramount did it because it was free and promoted movies as well. I'm fine with a paramount guy running the park because I think we will see an even stronger guest service angle and just less overall like a blown up regional park.

[KIBeast]

Being that Zimmerman was Ouimet's right hand man, I think we can expect more of the same. 

[Creed Bratton]

http://www.cleveland.com/travel/index.ssf/2017/10/outgoing_incoming_cedar_fair_c.html

An interesting interview with Ouimet and Zimmerman.

[rhyano]

Interesting article, also I'm not sure if this belongs in a separate thread or not, but I'm very excited about Cedar Fair's partnership with BGSU, if this is what I think it is, BGSU and the state of Ohio will have the only other place besides UCF to get a degree in Theme Park Management! 

[mayaman2]

On 10/22/2017 at 2:11 PM, chugh43 said:

http://www.cleveland.com/travel/index.ssf/2017/10/outgoing_incoming_cedar_fair_c.html

An interesting interview with Ouimet and Zimmerman.

Reading that interview gives me a lot of faith in Zimmerman. I adore the work that Ouimet has done for Cedar Fair, and if Zimmerman can continue that work with "an even stronger guest service angle" like @TheRickster said, I'm 100% down for it.