Breaking news: Sources tell CoasterBuzz that Jack Falfas has resigned as COO of Cedar Fair

Posted Saturday, June 12, 2010 6:47 PM | Contributed by Jeff

Two sources external to Cedar Fair have made credible statements to CoasterBuzz indicating that chief operating officer Jack Falfas has resigned from his position with the company. We've sent e-mail to official channels to confirm, and are waiting for a response. Again, this has not been confirmed by the company. Stay tuned...

According to the Cedar Fair Web site, Falfas has been with the company for 33 years and served as COO since 2005.

Tuesday, June 15, 2010 12:43 PM

The 8K must be filed within 4 days of the occurrence/event, which gives them...2 more days including today, correct? If there is nothing by the end of the business day today, I will be very surprised if there is still no word by noon tomorrow. If Q isn't already on top of this, maybe another investor should let them know...


Original BlueStreak64

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Tuesday, June 15, 2010 1:16 PM

The latest I've heard from a source that is that Falfas did not resign and he is not sick. That would lead me to believe it was a showdown with Dick.

I'll add that if there is any chance for litigation the company is probably going to be EXTREMELY careful about how they proceed.

Last edited by wahoo skipper, Tuesday, June 15, 2010 1:24 PM
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Tuesday, June 15, 2010 3:10 PM
mlnem4s's avatar

As they say at McDonalds, "I'm Lovin It!"

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Tuesday, June 15, 2010 9:56 PM

You know it's strikes me as odd that 95% of you people worshipped at the alter of Dick Kinzel just a few short years ago, the way you all talk about the guy now he must be lower then the scum of the earth.


-Brent Kneebush

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Tuesday, June 15, 2010 11:41 PM
Jeff's avatar

Do you have a point?


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Wednesday, June 16, 2010 2:00 AM

I don't know whether this resignation/termination or whatever involves any units Falfas holds to be relinquished or bought back. But if it did, that sort of transaction would also have to be reported as well.

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Wednesday, June 16, 2010 7:56 AM

I was a huge Michael Eisner fan in the late 80s and early 90s. He (along with Frank Wells) brought the Disney company back from the brink of disaster. But, even Eisner grew old in the position and started to think he could do no wrong. His Board finally grew tired of it.

Same with Kinzel. From the outside, and then from the inside, I really looked up to him. He grew Cedar Fair into a major player and you can't say otherwise. But, I certainly question his leadership over the past 5-10 years.

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Wednesday, June 16, 2010 8:10 AM

I think Dick has lost the edge and knows Jack has the edge and is just plain foolish to play the games he has! Of course he has helped build CF into a major player but he had some awesome help around him! Just look at the people he has run out of the company either by just being an ass to them or he just found ways to piss them off to leave! In the last 3 years I know for a fact just out of Cedar Point he has pushed people out that have over 200 years of combined service! And these people are working at other buisnesses with a better life!

The only cornerstone they have anymore is greed!!!!!!!!!!!!!!

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Wednesday, June 16, 2010 8:41 AM
Tekwardo's avatar

MagnumsRevenge said:
You know it's strikes me as odd that 95% of you people worshipped at the alter of Dick Kinzel just a few short years ago, the way you all talk about the guy now he must be lower then the scum of the earth.

For the record, I don't worship any man walking this earth. Having said that, DK was a useful CEO and General Manager for quite some time. At some point, though, he failed to innovate and began to stagnate.

Its one thing to make a mistake or 2, but it's clear at this point that the general public aren't coming to the park(s) like the used to (well, some of the parks), shareholders aren't happy, and even the enthusiast community can point out multiple missteps.

I agree with comparing him to Eisner. Eisner was brilliant for many years. Then he made a few missteps, and instead of fixing them, he fell into complacency. That Disneyland got to the state it once did was unacceptable, and when people on the board, the shareholders, and even the enthusiast communities and general public stop supporting you, it's time to go.

Personally I think Eisner is a business genius, but for whatever reason, he became stagnant at Disney. Looks like the same thing is happening with Dick, who has canceled his retirement for far too long now. The country is still in a recession. He's still running the company like there are limitless resources available, and he's not taking advantage of multiple opportunities to make extra money. That's bad for the company.


Website | Flickr | Instagram | YouTube | Twitter | Facebook

Don't cry because it's over, smile because it happened.

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Wednesday, June 16, 2010 2:46 PM
mlnem4s's avatar

It's being reported the "argument" that resulted in Jack's departure was over the RockBand Live show failing to draw guests. Anyone know more? Is the show bombing?

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Wednesday, June 16, 2010 3:07 PM

Is that a joke? (I hope so.) If the COO of a major company theme park company was terminated over the success (or not) of one live show in one park then that is....well...very Kinzelian.

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Wednesday, June 16, 2010 3:16 PM
Raven-Phile's avatar

Of course it's probably an exaggeration. IntaminHater will say anything to get people riled up against Cedar Fair.


R.I.P LeRoi Moore 9/7/61 - 8/19/2008
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Wednesday, June 16, 2010 3:30 PM
mlnem4s's avatar

Raven-Phile said:
Of course it's probably an exaggeration. IntaminHater will say anything to get people riled up against Cedar Fair.

1. Not an exaggeration, its rumored to be one component of the argument.

2. Not an Intamin hater.

3. Not against Cedar Fair the company and its employees, only the CEO.

I would appreciate it before you start slandering me in the future that you get your facts straight.

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Wednesday, June 16, 2010 3:39 PM
Carrie M.'s avatar

Slandering? I didn't hear him say anything. ;)


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Wednesday, June 16, 2010 3:46 PM
Jeff's avatar

Which begs the question, is "libeling" a word?

That's a pretty spectacular story, though I doubt it's true. The sense that I get is that there's a lot of history, and I doubt there was any one event.


Jeff - Editor - CoasterBuzz.com - My Blog - Silly Nonsense

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Wednesday, June 16, 2010 3:49 PM
birdhombre's avatar

mlnem4s can't hate Intamin if his screen name phonetically spells out the name of an Intamin coaster. :)

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Wednesday, June 16, 2010 4:55 PM
mlnem4s's avatar

I have to say while I don't think the rumor is the full reason, I can absolutely see it being the starting point for a heated discussion which ultimately calls into question Dick's reality of what is entertaining entertainment (1970's views) versus what Jack understands is entertainment in 2010. This line of reasoning we know to be true already. Then add in all the other "stuff" that we know has been boiling for years and bam, show-down at the Kinzel Corral.

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Wednesday, June 16, 2010 4:55 PM
Tekwardo's avatar

Carrie M. said:
Slandering? I didn't hear him say anything. ;)

I was going to post the same thing!


Website | Flickr | Instagram | YouTube | Twitter | Facebook

Don't cry because it's over, smile because it happened.

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Wednesday, June 16, 2010 5:00 PM
Carrie M.'s avatar

Great minds, eh?


"If passion drives you, let reason hold the reins." --- Benjamin Franklin

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Wednesday, June 16, 2010 5:39 PM

Do you think if the board for Cedar Fair figured out that Dick's retirement is over due and were to eliminate him, do you think Jack would come back?


Fever I really enjoy the Simpsons. It's just a shame that I am starting to LOOK like Homer.
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