Posted
Cedar Fair Entertainment Co.'s largest shareholder has refiled a request for a special shareholders meeting and this time is more specific about what it wants -- the removal of Chief Executive Richard Kinzel from another post at the company, chairman of the board. Q Investments also wants the amusement park operator to renegotiate with its lenders to allow it to pay shareholders a higher dividend.
Read more from The Plain Dealer, as well as the Q Funding SEC filing.
Didn't Kinzel announce earlier this week that's retiring and the search for a new CEO is under way?
No, it was reiterated that his contract expired in January 2012.
Jeff - Editor - CoasterBuzz.com - My Blog
I know that he could change his mind again but it sounds like he's retiring this time.
http://www.sanduskyregister.com/2010/nov/03/cedarfair110210tjxml
The board is looking for his replacement. This would also be the perfect time to fulfill Q's request and split the role.
Not really news by itself, but Cedar Fair (unsurprisingly) put out a press release indicating that they'll respond to Q, and that when the vote happens, you should really really really read all of the materials, and trust us, because Q totally is nothing to worry about.
http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=1...ory_id=269
Jeff - Editor - CoasterBuzz.com - My Blog
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