Cedar Fair elects three new board members

Posted Wednesday, June 27, 2012 2:28 PM | Contributed by Jeff

[Ed. note: The following is an excerpt of a press release. -J]

Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today announced that unitholders have elected three new members to the Board of Directors of its general partner, Cedar Fair Management, Inc., for three-year terms expiring in 2015.

The limited partners also confirmed the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm and approved an advisory vote on the compensation of the Company's named executive officers.

The new directors are:

Daniel J. Hanrahan, 54, brings more than 30 years of experience, including a variety of sales and marketing, general manager, president and chief executive officer roles across the consumer packaged goods, retail, travel and hospitality sectors. Currently, he serves as the president and CEO of Celebrity Cruises, a division of Royal Caribbean Cruises (NYSE: RCL).

Lauri M. Shanahan, 49, is a seasoned retail executive with more than 20 years of senior-level experience across global, multi-channel, multi-brand enterprises and other specialty retail, including Gap, Inc. She currently serves on the Board of Directors of Deckers Outdoor Corporation, a footwear, accessories and apparel lifestyle company with a portfolio of premium brands and over $1.3 billion in revenues, and Charlotte Russe Holding, Inc., a growing specialty retailer of fashionable, value-priced apparel and accessories with over 500 stores. In addition, Ms. Shanahan is a principal with Maroon Peak Advisors, which provides a broad range of advisory services in the retail and consumer products sector.

Debra Smithart-Oglesby, 57, is a former certified public accountant with more than 30 years of financial and corporate leadership experience in the food service and retail industries. Since 2006, she has served as the chair of the Board of Directors of Denny's Corporation, a full-service, family-style restaurant chain with approximately 1,680 eateries throughout the United States and nine countries.

"We are pleased to have Dan, Lauri and Debra join our Board of Directors," said Eric L. Affeldt, Cedar Fair's newly appointed Independent Chairman of the Board. "Their industry expertise and leadership experience will benefit our board and we look forward to their participation."

Read the entire press release from Cedar Fair.

Wednesday, June 27, 2012 2:32 PM
Jeff's avatar

Two women on the board... it's definitely not dad's board of directors!

By the way, Dick's house is apparently for sale. $3 million... but add another $100k for redecorating. Yikes.

Jeff - Editor - CoasterBuzz.com - My Blog - Phrazy

Wednesday, June 27, 2012 6:07 PM
LostKause's avatar

Definitely not my dream house.

I never realized it until now, but maybe a woman's touch is all this park really needs to get where it needs to be.

Wednesday, June 27, 2012 6:47 PM

Wouldn't you think that the listing would mention the big amusement park next door?

Wednesday, June 27, 2012 7:16 PM
Lord Gonchar's avatar

If we've learned anything from the numerous news stories over the years, it's that, in general, people aren't exactly thrilled to be living near noisy, busy amusement parks.

Wednesday, June 27, 2012 7:18 PM
Jeff's avatar

I don't understand what house that actually is. If his house is at the end of that road, then it would be this one. Yet, the first link is for 1 Cedar Point Dr., the address of the park.

Jeff - Editor - CoasterBuzz.com - My Blog - Phrazy

Wednesday, June 27, 2012 7:23 PM

LostKause said:
Definitely not my dream house.

I never realized it until now, but maybe a woman's touch is all this park really needs to get where it needs to be.

Well, it couldn't hurt, I guess. I don't care if they're male or female, just so they can improve Cedar Fair, and perhaps their expertise in other areas of focus will lead to the parks getting better. I do find it a tad bit odd that only one of the three has entertainment experience, whereas the other two have focused mainly on purchased goods companies...I would think it would be valuable to have people well-versed in the unique entertainment market that is the amusement park business serving on the board.

That being said, I know NOTHING about business and this could all be a stupid observation. Lol this is where I lose focus and go ride Talon a few times.

"Look at us spinning out in the madness of a roller coaster" - Dave Matthews Band

Wednesday, June 27, 2012 11:58 PM
Jason Hammond's avatar

Jeff said:
Yet, the first link is for 1 Cedar Point Dr., the address of the park.

That would be a pretty good deal for $3M ;-)

880 Coasters, 34 States, 7 Countries
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Thursday, June 28, 2012 12:15 AM

The pictures on the link for the house show a dock out onto a lake, and none of the houses on Kinzel's street have a dock, according to Google maps. Also, the picture with the pool shows palm trees, which, as far as I know, don't grow in Ohio without being brought inside for the winter.

Jeff Young
Thursday, June 28, 2012 1:30 AM
birdhombre's avatar

As far as I can tell, nothing but the park actually has an address on Cedar Point Drive. The chausee and the private road beside the CP parking lot are addressed as Cedar Point Road.

Ah, I just discovered something. Click on "view virtual tour" (warning: unstoppable folksy background music plays), then click "agent listings." You should see some familiar addresses, or at least ones you can guess at. The last one is his own firm's address -- which, strangely enough, can also be had for a mere $3 million! ;)

Thursday, June 28, 2012 2:06 AM
sws's avatar

Even if Kinzel is successful in selling his home, I expect Q Investments will file a lawsuit opposing the sale and call a special share holder meeting to block it.

Thursday, June 28, 2012 8:50 AM
birdhombre's avatar

I figured he'd build a new house down along the other entrance, so his address would be 1 Richard Kinzel Causeway. ;)


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