Micromanaging board behind revolving door of executives at SeaWorld Entertainment
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From the article:
In the proceeding months, nearly every single executive at SeaWorld left, with [Gus] Antorcha announcing his resignation in September. Antorcha, who is now back at Carnival Cruise Lines, stated that the resignation "was due to disagreements over the Board’s involvement in the decision making at the Company."
Read more from Orlando Weekly.
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This is the best reporting I've seen on the subject, and it really brings it all together. This Scott Ross guy is clearly at the top of the problem. I talk with people still there, and they all agree that it's like being in a rudderless ship because no leader is empowered to lead. That's a hard problem to solve when it comes from the board itself, because you can't unseat the guy when his employer owns a third of the company. Still, late this year Vanguard and Barrow Hanley bought huge numbers of shares, so I wonder if they see an opportunity.
I don't think that righting the ship is that hard, and I imagine that Manby could have been the guy if he had the room to move.
Jeff - Editor - CoasterBuzz.com - My Blog
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