Cedar Fair legal chief leaving after pay cut

Posted | Contributed by Jeff

Cedar Fair LP is parting ways with its longtime legal chief Duffield “Duff” Milkie. He resigned immediately as executive vice president, general counsel, and corporate secretary, but will remain an employee of Cedar Fair until Sept. 30, the Sandusky, Ohio-based company disclosed in a securities filing Wednesday. Milkie, who didn’t respond to a request for comment about his post-Cedar Fair plans, is heading for the exit after his pay package dropped by more than 58% in 2020. Cedar Fair revealed in an annual proxy statement filed in April that Milkie was paid nearly $730,000 last year, down from the more than $1.7 million in total compensation he received from the company in 2019.

Read more from Bloomberg Law.

Jeff's avatar

As a former contact software architect for a major theme park company, I can assure you that being in the parks was rarely necessary, to the extent that being remote with occasional travel would be fine.


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

Location … is more than just taxes.

Couldn’t agree more. What are the schools like? Are “quality” schools common, or are there just a handful of public/private options for my kids? What are the entertainment opportunities (theater, music, sports), based on which of those I consider important? What’s the weather like, across the entire year? What sort of recreational options (beaches, mountains, lakes, rivers, etc.) are there nearby, again defined by what’s important to me? What’s the food scene like? Do I want a more city-based lifestyle or something more rural, and how easy is that? How convenient is the airport and how frequent/diverse are the direct flights in and out?

If you are going after talented people, they have lots of good options, and these things start to matter. A lot.

As for in-residence vs. remote: I’m going to guess that most people with influence over C-Suite hires in a company with ~$1.5B annual revenue expect those officers to be co-located for at least a good part of the time.

Last edited by Brian Noble,
Jeff's avatar

I think it depends. I work for a company with twice the market cap of FUN, and the leadership is spread out.


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

What’s the revenue/burn rate (whichever is larger)? That strikes me as a better measure of management size/complexity than the stock price.


Jeff's avatar

We're a dotcom. You know that doesn't matter. 😁


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

Jeff said:

but I see little value in a CFO or CTO being in the parks every day.

Even less so for General Counsel.

Ok, on this I can fully agree. Having General Counsel in the parks regularly would likely backfire.

Yeah, in fact, where are there no Cedar Fair properties? Maybe the General Counsel should be based in Wyoming or New England...far, far away from the midways...

--Dave Althoff, Jr.


    /X\        _      *** Respect rides. They do not respect you. ***
/XXX\ /X\ /X\_ _ /X\__ _ _ _____
/XXXXX\ /XXX\ /XXXX\_ /X\ /XXXXX\ /X\ /X\ /XXXXX
_/XXXXXXX\__/XXXXX\/XXXXXXXX\_/XXX\_/XXXXXXX\__/XXX\_/XXX\_/\_/XXXXXX

RideMan said:

Yeah, in fact, where are there no Cedar Fair properties?

Aurora, Ohio

99er's avatar

h

Last edited by 99er,

-Chris

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