Six Flags Announces New CEO
November 15 2021 - 7:00AM
Business Wire
Selim Bassoul Appointed CEO and President
Ben Baldanza Named Non-Executive Chairman
Six Flags Entertainment Corporation (NYSE: SIX), the world’s
largest regional theme park company and the largest operator of
waterparks in North America, today announced that Selim Bassoul,
formerly the Non-Executive Chairman of the Board, has been
appointed Chief Executive Officer and President of Six Flags.
Effective immediately, Mr. Bassoul will replace Michael Spanos, who
has stepped down after two years of service, as CEO, President and
a member of the Board. Mr. Bassoul will continue to serve as a
member of the Board, and Ben Baldanza, an independent director of
Six Flags, and former CEO of Spirit Airlines, has been elected as
the new Non-Executive Chairman of the Board.
“We are thrilled that Selim has agreed to help lead Six Flags
into a new era of growth. His long and exceptional track record as
a public company CEO, his experience, entrepreneurial spirit, and
inspiring personality make Selim the perfect CEO for Six Flags at
this moment in time. We are particularly excited about his proven
ability to motivate teams, to delight customers, and to drive
financial performance,” said Ben Baldanza, Non-Executive Chairman
of the Board. “In addition, the Board would like to thank Mike
Spanos for his tireless efforts as he successfully shepherded Six
Flags through an exceptionally challenging time through the COVID
crisis, including the safe reopening of all our parks. As we
indicated on our earnings call on October 27th, our fourth quarter
attendance trends have accelerated compared to the third quarter,
and we look forward to building on that momentum into 2022 and
beyond.”
“I am honored to serve as the next CEO of Six Flags, and I am
excited to bring the magic back to our parks. We are a company led
by a purpose–to make a positive and meaningful impact on everyone
Six Flags touches,” said Selim Bassoul. “I will do my best to
enable our people to fulfill their passion to make a difference,
and to harness their creativity to build on a shared vision for
guest satisfaction and financial growth. I am passionate about
empowering employees and serving our customers, and together with
our team, I know we can set up Six Flags for a new level of success
in the months and years ahead.”
About Selim Bassoul
Bassoul, 64, is the former President, CEO, and Chairman of
Middleby Corporation. During Mr. Bassoul’s tenure, Middleby became
the leading global manufacturer of industrial and high-end
residential appliances, growing revenue from $100 million to $2.7
billion, Adjusted Operating Income from $12 million to $535
million, and market capitalization from $100 million to more than
$6 billion. He holds a B.A. in Business Administration from the
American University of Beirut, and an M.B.A. in Finance and
Marketing from the Northwestern Kellogg School of Management.
About Ben Baldanza
Baldanza, 59, is currently CEO of Diemacher LLC, an advisory
firm helping businesses restructure, grow revenue, and reduce
costs. He is the former CEO, President, and Director of Spirit
Airlines, an ultra-low cost carrier. Under his leadership from 2006
to 2016, Spirit Airlines grew its revenue from $500 million to $2.1
billion, and transformed from an unprofitable business to the
highest margin airline in the US. Prior to joining Spirit Airlines,
Baldanza held positions of increasing responsibility in finance,
marketing, and revenue management. He currently serves as a
director of JetBlue Airways Corporation, and previously served on
the boards of Frontier Airlines, Inc. and Spirit Airlines, Inc. He
holds a B.A. from Syracuse University and an M.P.A. from Princeton
University.
About Six Flags Entertainment
Corporation
Six Flags Entertainment Corporation is the world’s largest
regional theme park company and the largest operator of waterparks
in North America, with 27 parks across the United States, Mexico,
and Canada. For 60 years, Six Flags has entertained millions of
families with world-class coasters, themed rides, thrilling
waterparks and unique attractions. Six Flags is committed to
creating an inclusive environment that fully embraces the diversity
of our team members and guests. For more information, visit
www.sixflags.com.
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Stephen Purtell Senior Vice President Investor Relations,
Treasury and Strategy +1-972-595-5180 investors@sftp.com
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