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NEWS
Michael Spanos named new Six Flags president and CEO
POSTED 29 Oct 2019 . BY Andy Knaggs
PepsiCo executive Michael Spanos has been appointed as president and CEO of Six Flags Entertainment Corporation, replacing Jim Reid-Anderson in both roles with effect from 18 November 2019.

The 55-year-old has been serving as CEO of PepsiCo, Asia, Middle East and North Africa – a sector with US$6bn (€5.42bn, £4.68bn) in revenue, spanning 43 countries, with 20,000 direct and 115,000 indirect employees, and contributing US$1.2bn (€1.08bn, £940m) in operating profit.

Under Spanos' leadership, the company set a new strategic direction that accelerated top line and operating profit growth over multiple years, starting first in the Greater China region, and then across the entire portfolio of territories.

"Mike is a proven value creator and results-oriented leader, with a strong track record in operationally intensive businesses, both in North America and internationally," said Jon Luther, Six Flags independent lead director. "His strong strategic ability, marketplace intuition and people leadership skills make him ideal to lead Six Flags."

Spanos joins the Six Flags board immediately, but will not succeed Reid-Anderson as chair, as Richard Roedel, who has been on the board since December 2010, is to step up as non-executive chair.

Reid-Anderson commented: "As a major investor in Six Flags, I have the utmost confidence in Mike's ability to further supercharge our growth initiatives, continue to drive innovation, and deliver significant short, medium and long-term value for our stakeholders."

Spanos has spent more than 25 years with PepsiCo, seven of them working internationally, before which he served in the US Marine Corps. He has a Masters degree in Organisational Behaviour from the University of Pennsylvania.

"Jim has built an amazing legacy, and I look forward to the next horizon of growth," said Spanos. "It's a privilege to be able to lead such a superb organisation."

Six Flags showed growth in attendances and revenues in its latest financial figures, which were for the first nine months of 2019. Some 26.7m people visited its parks during this period, almost a million more than in the same period in 2018, while revenue was US$1.2bn (€1.08bn, £940m) ‒ up 3 per cent. Adjusted EBITDA was US$455m (€410m, £354m) for the nine-month period.

Already the largest operator of waterparks in North America, Six Flags plans to open a succession of theme parks in China and Saudi Arabia over the next few years.
Visitor numbers and revenue have both been growing for Six Flags this year
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Six Flags Qiddiya, the theme park that will be a key entertainment facility at the new city of Qiddiya, being built 40km (25m) from the Saudi capital of Riyadh, will have the "longest, tallest and fastest" rollercoaster in the world, as well as the world's tallest drop-tower ride.
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Jobs   News   Products   Magazine
NEWS
Michael Spanos named new Six Flags president and CEO
POSTED 29 Oct 2019 . BY Andy Knaggs
PepsiCo executive Michael Spanos has been appointed as president and CEO of Six Flags Entertainment Corporation, replacing Jim Reid-Anderson in both roles with effect from 18 November 2019.

The 55-year-old has been serving as CEO of PepsiCo, Asia, Middle East and North Africa – a sector with US$6bn (€5.42bn, £4.68bn) in revenue, spanning 43 countries, with 20,000 direct and 115,000 indirect employees, and contributing US$1.2bn (€1.08bn, £940m) in operating profit.

Under Spanos' leadership, the company set a new strategic direction that accelerated top line and operating profit growth over multiple years, starting first in the Greater China region, and then across the entire portfolio of territories.

"Mike is a proven value creator and results-oriented leader, with a strong track record in operationally intensive businesses, both in North America and internationally," said Jon Luther, Six Flags independent lead director. "His strong strategic ability, marketplace intuition and people leadership skills make him ideal to lead Six Flags."

Spanos joins the Six Flags board immediately, but will not succeed Reid-Anderson as chair, as Richard Roedel, who has been on the board since December 2010, is to step up as non-executive chair.

Reid-Anderson commented: "As a major investor in Six Flags, I have the utmost confidence in Mike's ability to further supercharge our growth initiatives, continue to drive innovation, and deliver significant short, medium and long-term value for our stakeholders."

Spanos has spent more than 25 years with PepsiCo, seven of them working internationally, before which he served in the US Marine Corps. He has a Masters degree in Organisational Behaviour from the University of Pennsylvania.

"Jim has built an amazing legacy, and I look forward to the next horizon of growth," said Spanos. "It's a privilege to be able to lead such a superb organisation."

Six Flags showed growth in attendances and revenues in its latest financial figures, which were for the first nine months of 2019. Some 26.7m people visited its parks during this period, almost a million more than in the same period in 2018, while revenue was US$1.2bn (€1.08bn, £940m) ‒ up 3 per cent. Adjusted EBITDA was US$455m (€410m, £354m) for the nine-month period.

Already the largest operator of waterparks in North America, Six Flags plans to open a succession of theme parks in China and Saudi Arabia over the next few years.
Visitor numbers and revenue have both been growing for Six Flags this year
RELATED STORIES
China and Saudi Arabia projects subject to potential further delays, says Six Flags boss


International licensing and the scheduling of new park openings abroad continue to be a challenge for Six Flags Entertainment Corporation, with parks currently under construction in China and Saudi Arabia both subject to potential further delays.
Six Flags chases another record year as promotions help increase membership numbers


Six Flags Entertainment Corporation is targeting its tenth consecutive year of growth, despite a mixed bag of September year-to-date results that included increased attendance, but reduced guest spending per capita.
Six Flags Great Adventure announces plans for record-breaking coaster


Six Flags has announced plans to build the world's tallest, fastest and longest single-rail rollercoaster, with the new attraction coming to the operator's Mew Jersey theme park, Six Flags Great Adventure, in mid-2020.
World's tallest, fastest and longest coaster planned for Six Flags' Saudi venture


Six Flags Qiddiya, the theme park that will be a key entertainment facility at the new city of Qiddiya, being built 40km (25m) from the Saudi capital of Riyadh, will have the "longest, tallest and fastest" rollercoaster in the world, as well as the world's tallest drop-tower ride.
MORE NEWS
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Ireland's top attraction, the Guinness Storehouse, is to come under new leadership from April, with Catherine Toolan replacing Paul Carty as managing director.
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A new US$550m (€509m, £426m) African-themed water park and resort from Kalahari Resorts & Conventions is due to open in Round Rock, Texas, in November 2020.
Northern Ireland's The Gobbins in line for £11m development
Plans for an £11m (US$14.2m, €13m) extension to The Gobbins, a famous cliff-face path at Islandmagee, County Antrim, Northern Ireland, have made significant progress, according to the local borough council.
London's V&A Museum of Childhood to close for two-year redevelopment
Creating an "unforgettable first museum experience for children" is the aim of the V&A Museum of Childhood in London, which has announced it will close in May 2020 to undergo a two-year, £13m (US$16.9m, €15.7m) transformation.
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Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
WhiteWater

WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
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Triotech was established in 1999. The company is based in Montreal, Canada and has additional offi [more...]
+ More profiles  
FEATURED SUPPLIER

Healthy appetite for investment at EAG International 2020
A buoyant EAG International has welcomed in the new decade as a well-rounded event with high levels of optimism and positivity on the show floor. [more...]
VIDEO GALLERY

Polin Waterparks & Pool Systems - Experience the experience
Have you ever wondered how the fun is created? Polin Waterparks is a global market leader in the design, manufacture and installation of waterparks and water play attractions. Find out more...
More videos:
Introducing AnimaChat! – Animalive
Red Raion: Meet the Team - Introduction – Red Raion
Miko and the Spell of the Stone - Movie Trailer – Red Raion
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

23-25 Mar 2020

MuseumNext Europe

Edinburgh Festival Hub, Edinburgh,
23-25 Mar 2020

Dubai Entertainment Amusement and Leisure Exhibition (DEAL)

Dubai World Trade Centre, Dubai, United Arab Emirates
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

ABOUT LEISURE MEDIA
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