BoddaH1994 Posted September 1, 2023 Share Posted September 1, 2023 Stepping down for personal reasons, according to the article. https://www.businesswire.com/news/home/20230901895746/en/Cedar-Fair-Announces-Departure-of-Matt-Ouimet-from-Board-of-Directors 1 Quote Link to comment Share on other sites More sharing options...
Orion-XL200 Posted September 1, 2023 Share Posted September 1, 2023 Very interesting. Wondering what if/any changes we'll see in the direction. 1 Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted September 1, 2023 Author Share Posted September 1, 2023 I don’t think so. He’s been trying to move on since stepping down as CEO. He probably wants to do his own thing, either joining a different board or opening his own business. 2 Quote Link to comment Share on other sites More sharing options...
Leland Wykoff Posted September 1, 2023 Share Posted September 1, 2023 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. 6 Quote Link to comment Share on other sites More sharing options...
Tr0y Posted September 2, 2023 Share Posted September 2, 2023 Did Chad write this thread title? Who is Matt Ouinet? Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted September 2, 2023 Author Share Posted September 2, 2023 1 hour ago, Tr0y said: Did Chad write this thread title? Who is Matt Ouinet? The creator of this thread could not be reached for comment. Quote Link to comment Share on other sites More sharing options...
PKIDelirium Posted September 2, 2023 Share Posted September 2, 2023 It's called a simple typo. Quote Link to comment Share on other sites More sharing options...
Tr0y Posted September 2, 2023 Share Posted September 2, 2023 12 hours ago, PKIDelirium said: It's called a simple typo. Proof reading is fairly simple too, just ask any credible PR person who has spent 5 minutes in the role. Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted September 2, 2023 Author Share Posted September 2, 2023 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. Some have demonstrated that it’s not terribly important. I’m just following the industry trends. 4 Quote Link to comment Share on other sites More sharing options...
Tr0y Posted September 6, 2023 Share Posted September 6, 2023 On 9/2/2023 at 3:10 PM, BoddaH1994 said: Some have demonstrated that it’s not terribly important. I’m just following the industry trends. Who again is feeding you lines? Quote Link to comment Share on other sites More sharing options...
BoddaH1994 Posted September 6, 2023 Author Share Posted September 6, 2023 35 minutes ago, Tr0y said: Who again is feeding you lines? Clearly Matt Ouinet. 1 Quote Link to comment Share on other sites More sharing options...
jackwilliam11 Posted September 28, 2023 Share Posted September 28, 2023 (edited) On 9/1/2023 at 11:07 PM, Leland Wykoff said: 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. It's possible that Matt Ouimet could play a role in overseeing acquisitions and development for another company in the entertainment, waterparks, amusement parks, and resorts industry, similar to his role at Cedar Fair. His statement in the Cedar Fair announcement does suggest that he might be interested in such a position in the future. However, this is purely speculative at this point, and only time will tell if he pursues such opportunities. Edited September 29, 2023 by jackwilliam11 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.