Mike Spanos Leaving Six Flags, New CEO Chosen

[ThrillKingsFitzy]

My gosh, the CEOs are leaving left and right.

https://www.bakersfield.com/ap/news/six-flags-announces-new-ceo/article_28f5aaa0-feb8-5933-9cb3-bdd1c15cf72f.html
 

Hopefully this is a good one.

[DiamondbackFan]

The press release and SEC filing make it sound like Spanos was fired and pushed out by the Board of Directors over the weekend.  The new CEO, Selim Bassoul, was the Chairman of the Board and should have a solid understanding of the company.

[ThrillKingsFitzy]

3 hours ago, DiamondbackFan said:

The press release and SEC filing make it sound like Spanos was fired and pushed out by the Board of Directors over the weekend.  The new CEO, Selim Bassoul, was the Chairman of the Board and should have a solid understanding of the company.

Yes, like free spin very good very cheap very everywhere

[BoddaH1994]

3 hours ago, DiamondbackFan said:

The press release and SEC filing make it sound like Spanos was fired and pushed out by the Board of Directors over the weekend.  The new CEO, Selim Bassoul, was the Chairman of the Board and should have a solid understanding of the company.

I didn't believe that until I read Spanos' quote:

“I am honored to serve as the next CEO of Six Flags, and I am excited to bring the magic back to our parks."

 

[Leland Wykoff]

https://www.barrons.com/articles/six-flags-six-stock-new-ceo-analysts-51636999062

[DiamondbackFan]

The known timeline:

Oct 18th: Selim Bassoul appointed to the Board of 1847 Goedeker Inc.
Oct 27th: Six Flags Q3 Earnings
Nov 4th: Selim Bassoul resigns from the Board of 1847 Goedeker Inc., "due to unexpected commitments on his time that could not have been previously anticipated."

https://m.marketscreener.com/quote/stock/1847-GOEDEKER-INC-109987931/news/1847-GOEDEKER-INC-Change-in-Directors-or-Principal-Officers-form-8-K-36921295/

Nov 13th: Six Flags and Michael Spanos entered into an agreement and general release (the "Spanos Agreement")
Nov 14th: Selim Bassoul appointed President and CEO of Six Flags

https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=15352671&CIK=0000701374&Index=10000

Nov 16th & 17th: Activist investor H Partners Management buys another 400000 shares of Six Flags stock and now own 9.7% of the company.

https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=15365946&CIK=0000701374&Index=10000

 

[BoddaH1994]

6 hours ago, DiamondbackFan said:

The known timeline:

Oct 18th: Selim Bassoul appointed to the Board of 1847 Goedeker Inc.
Oct 27th: Six Flags Q3 Earnings
Nov 4th: Selim Bassoul resigns from the Board of 1847 Goedeker Inc., "due to unexpected commitments on his time that could not have been previously anticipated."

https://m.marketscreener.com/quote/stock/1847-GOEDEKER-INC-109987931/news/1847-GOEDEKER-INC-Change-in-Directors-or-Principal-Officers-form-8-K-36921295/

Nov 13th: Six Flags and Michael Spanos entered into an agreement and general release (the "Spanos Agreement")
Nov 14th: Selim Bassoul appointed President and CEO of Six Flags

https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=15352671&CIK=0000701374&Index=10000

Nov 16th & 17th: Activist investor H Partners Management buys another 400000 shares of Six Flags stock and now own 9.7% of the company.

https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=15365946&CIK=0000701374&Index=10000

 

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