Posted Thursday, January 12, 2012 9:00 AM | 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, is pleased to announce the promotions of Brian C. Witherow to the position of Executive Vice President and Chief Financial Officer and David R. Hoffman to the position of Senior Vice President and Chief Accounting Officer.
"After completing a six-month, national search for a new Chief Financial Officer, we concluded that we had the appropriate talent in-house," said Matt Ouimet, Cedar Fair's President and Chief Executive Officer. "Since joining Cedar Fair in June of this past year, I have been consistently impressed with both Brian and Dave. They have a deep understanding of our business model; are absolutely committed to the integrity of our financial management systems; and, are focused on delivering value to our unitholders. Additionally, they have proven to be highly effective thought partners with our other senior leaders, pushing continued discipline in cost management as well as championing new growth initiatives."
Witherow has been with Cedar Fair for 17 years. During this time he has served in a variety of roles including Director of Investor Relations, Treasurer and most recently as Vice President and Corporate Controller. Prior to entering the amusement park industry, Brian served in various roles with the accounting firm Arthur Andersen.
Hoffman joined Cedar Fair in 2006 as the Vice President of Corporate Tax. In 2010, Dave took on the additional responsibility of Vice President of Finance, leading the Company's Tax and Treasury functions. Prior to joining Cedar Fair, he served as a senior tax consultant with Ernst & Young.
Read the entire press release from Cedar Fair.
With the outside hires to executive positions, I'm actually a little surprised by this. On the other hand, I take a certain amount of faith that an internal promotion under this CEO is because of actual qualifications, not time served.
Brian participated pretty significantly in the last conference call. Trying to remember if he had been on those in the past and, if he had, it was pretty minimal. If that was a "tryout" to see if he was ready for the gig then I think he did a great job.
I like Brian. He started at the company about the time that I did and I recall being impressed with him in my limited contact with him. I think there is something to be said for promoting from within when possible so long as the candidate is legit. I agree with you Jeff that the national search and the stamp of approval from Matt legitimizes him.
And, I think this is good for other upper management in the company as a testament that, if they are capable and can prove themselves...they too can advance.
There was a woman that worked at CP's PR office who gave me some help on my second visit to the park in the mid-90's. Her name was Janice Lifke. I actually met her walking the grounds. Saw the name badge that said "JANICE" and simply asked if she was the Janice I had communicated with. I saw her name some years later in the credits of some coaster TV program, listed as Janice Lifke-Witherow.
Anyone know if this is her husband or another relation?
Mike, they are married.
Yeah, Janice was one of the first people I met at the park circa 1998. I believe she contracts with Amusement Today now, and I want to say she's still active with IAAPA. I talked to her only briefly at the GTA's.
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