Shareholders Elect Four Independent Directors to the Six Flags Board
Six Flags Entertainment Corporation (NYSE:FUN), the largest regional amusement park operator in North America, announced today that its shareholders elected Sandra (Sandy) Cochran, Michael Colglazier, Felipe Dutra, and Steven Hoffman to the Board of Directors of Six Flags Entertainment Corporation for 3-year terms expiring in 2028.
Shareholders also confirmed the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm, approved an advisory vote on the compensation of the Company's named executive officers, and confirmed a 1-year frequency for shareholder advisory votes on executive compensation.
"I want to welcome Sandy, Michael, Felipe and Steven to our Board of Directors," said Selim Bassoul, executive chairman of Six Flags Entertainment Corporation. "We appreciate our shareholders for recognizing the value these business leaders will provide Six Flags by electing them as our Class I directors. Each brings a proven record of success and commitment to excellence that aligns perfectly with Six Flags' core values and business goals. We are confident their contributions will significantly enhance our governance oversight responsibilities and help propel us towards sustained growth and success."
About Our New Directors
Sandra (Sandy) Cochran served as executive chair of Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) from November 2023 through February 2024. Prior to her role as executive chair, she served in positions of increasing responsibility at Cracker Barrel including service as president and CEO and a director from September 2011 to October 2023, president and COO from November 2010 to September 2011, and executive vice president and CFO from April 2009 until November 2010. Prior to joining Cracker Barrel, Ms. Cochran served in multiple executive leadership roles at Books-A-Million, Inc. (NASDAQ:BAMM), a book retailer, including as CEO from February 2004 to April 2009, president from August 1999 to February 2004, and CFO from September 1993 to August 1999. Ms. Cochran currently serves on the board of Lowe's Companies, Inc. (NYSE:LOW) since 2016, and Signet Jewelers Limited (NYSE:SIG) since February 2024. She previously served on the board of Cracker Barrel from September 2011 to February 2024, and Dollar General Corporation (NYSE:DG) from 2012 to May 2020. Ms. Cochran holds an MBA from Pacific Lutheran University and a bachelor's in chemical engineering from Vanderbilt University. She also served as a Captain in the Ninth Infantry Division of the United States Army.
Michael Colglazier has served as CEO and a director of Virgin Galactic Holdings, Inc. (NYSE:SPCE) since July 2020 and as Virgin Galactic's president since February 2021. Prior to joining Virgin Galactic, Mr. Colglazier served as president and managing director for Disney Parks International from March 2018 until his departure in July 2020. Prior to that from January 2013 until March 2018, Mr. Colglazier was president of The Disneyland Resort where he led a workforce of nearly 30,000 employees and drove record business performance and growth. He is currently chairman of the CEO Roundtable for the University of California, Irvine. He is also a past member of the Engineering Advisory Board of Rice University, and past commissioner and member of the executive committee of the California Travel and Tourism Commission. Mr. Colglazier holds a bachelor's in industrial engineering from Stanford University and an MBA from Harvard Business School.
Felipe Dutra is a founding investor and chairman of Waldencast PLC (NASDAQ:WALD), a position he has held since 2021. He previously served as CFO of Anheuser-Busch InBev (Euronext: ABI) (NYSE:BUD) (MEXBOL: ANB) (JSE: ANH) from 2004 through 2020, adding chief technology officer responsibilities in 2014. Prior to that he held several roles in treasury and operations at Ambev predecessor Cervejaria Brahma and was appointed CFO in 1999, holding that position until the merger with Interbrew in 2004, which led to the creation of InBev. Mr. Dutra holds a degree in economics from Candido Mendes and an MBA in controlling from Universidade de São Paulo.
Steven Hoffman currently operates Python Global Ventures, a family office investment firm. Prior to that, Mr. Hoffman was a partner and consumer sector head at Highline Capital Management LLC from 2001 through 2018. Mr. Hoffman began his career at Wertheim Schroder & Co. as an investment banking and private equity analyst starting in 1992. He earned dual bachelor's degrees at The University of Pennsylvania from The Wharton School and the College of Arts & Sciences and holds an MBA from the University of Chicago Booth School of Business.
ABOUT SIX FLAGS ENTERTAINMENT CORPORATION
Six Flags Entertainment Corporation (NYSE:FUN) is North America's largest regional amusement-resort operator with 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. Focused on its purpose of making people happy, Six Flags provides fun, immersive and memorable experiences to millions of guests every year with world-class coasters, themed rides, thrilling water parks, resorts and a portfolio of beloved intellectual property such as Looney Tunes®, DC Comics® and PEANUTS®.
FORWARD-LOOKING STATEMENTS
Some of the statements contained in this news release that are not historical in nature are forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements as to our expectations, beliefs, goals and strategies regarding the future. Words such as "anticipate," "believe," "create," "expect," "future," "guidance," "intend," "plan," "potential," "seek," "synergies," "target," "will," "would," similar expressions, and variations or negatives of these words identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. These forward-looking statements may involve current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions that are difficult to predict, may be beyond our control and could cause actual results to differ materially from those described in such statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct, that our growth and operational strategies will achieve the target results. Important risks and uncertainties that may cause such a difference and could adversely affect attendance at our parks, our future financial performance, and/or our growth strategies, and could cause actual results to differ materially from our expectations or otherwise to fluctuate or decrease, include, but are not limited to: failure to realize the anticipated benefits of the Merger, including difficulty in integrating the businesses of legacy Six Flags and legacy Cedar Fair; failure to realize the expected amount and timing of cost savings and operating synergies related to the Merger; general economic, political and market conditions; the impacts of pandemics or other public health crises, including the effects of government responses on people and economies; adverse weather conditions; competition for consumer leisure time and spending or other changes in consumer behavior or sentiment for discretionary spending; unanticipated construction delays or increases in construction or supply costs; changes in capital investment plans and projects; anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the Combined Company's operations; legislative, regulatory and economic developments and changes in laws, regulations, and policies affecting the Combined Company; acts of terrorism or outbreak of war, hostilities, civil unrest, and other political or security disturbances; and other risks and uncertainties we discuss under the heading "Risk Factors" within our Annual Report on Form 10-K and in the other filings we make from time to time with the Security and Exchange Commission. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this document and are based on information currently and reasonably known to us. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after publication of this news release.
This news release and prior releases are available under the News tab at https://investors.sixflags.com
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Investor Contact: Michael Russell, 419.627.2233
Media Contact: Gary Rhodes, 704.249.6119