Cedar Fair appoints two new outside board members
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Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that it has expanded its board to nine members per its previously announced agreement with Q Funding III, L.P. and Q4 Funding L.P. Eric Affeldt and John M. Scott III have been appointed as Class I Directors of its general partner beginning June 7, 2010, with a term ending 2013.
“We are pleased to have Eric Affeldt and John Scott join our team,” said Dick Kinzel, Cedar Fair’s chairman, president and chief executive officer. “I believe they will provide valuable guidance and expertise for Cedar Fair in this challenging business environment.”
Mr. Affeldt is president and chief executive officer of ClubCorp Inc., a position he has held since 2006. Prior to joining ClubCorp, he was a principal of KSL Capital Partners, the private equity firm that purchased ClubCorp in 2006. Mr. Affeldt also previously served as president and CEO of KSL’s former golf division, KSL Fairways; vice president and general manager of Doral Golf Resort and Spa in Miami and the combined PGA West and La Quinta Resort and Club in California; and was a founding partner of KSL Recreation. In addition, he was president of General Aviation Holdings, Inc.
Mr. Scott is president and chief executive officer of Rosewood Hotels & Resorts, a position he has held since 2003. Prior to joining Rosewood Hotels & Resorts, he was the managing director of acquisitions and asset management for Maritz, Wolff & Co., a private equity real estate fund. Mr. Scott began his career with the Interpacific Group where he held senior hotel management positions and in 1994 joined the Walt Disney Company as manager of business development and strategic planning for both the Disney Development Company and Walt Disney Attractions groups.
Read the entire press release from Cedar Fair.
As I said over on PB...it looks like Q took the search seriously and came up with two individuals with unique backgrounds that will prove valuable for a member of this Board. Even without the Disney experience it looks like they have a couple of individuals that can influence the resort side of the business, at the very least.
Jeff said:
And by pleased, he means scared crapless. :)
I think sending a box of Depends would be a nice gesture, don't you?
Bravo Q on those two individuals!!!!
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