Wednesday, October 30, 2019

Six Flags Entertainment Names New President and CEO

Six Flags Entertainment Corporation has announced an end to their search for the company's next CEO with the announcement that Michael Spanos has been given the job.  He will officially become the company's President and Chief Executive Officer on November 18th, and has already been named a member of Six Flags' board of directors.

The same day that Mr. Spanos will assume the CEO job the current leader, James Reid-Anderson, will step down from his role.  Mr. Reid-Anderson is looking forward to his retirement and notes that “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.”

According to the Six Flags press release, Mr. Spanos, 55, most recently served as Chief Executive Officer of PepsiCo, Asia, Middle East and North Africa - a sector of that company with six billion in revenue coming from 43 countries.

“I am thrilled to join the dedicated and talented employees of Six Flags,” said Mr. Spanos. “Jim has built an amazing legacy, and I look forward to the next horizon of growth.  It is a privilege to be able to lead such a superb organization.”

While the chain's new CEO does not appear to have specific amusement industry employment history, he does have an extensive background in global operations.  With Six Flags pursuing licensing deals for parks across the globe as a new source of revenue those experiences could bode well for them.  Here's hoping that he is as amusing as Mr. Reid-Anderson has been in the yearly new ride announcement videos - those are big shoes to fill!