Q says Cedar Fair considering Mark Shapiro for CEO, says it has no confidence in board to choose CEO

Posted Friday, April 22, 2011 11:51 PM | Contributed by Jeff

Cedar Fair LP's largest shareholder, Q Funding, said in a regulatory filing Thursday that it has no confidence in the board's ability to pick a successor for Chief Executive Dick Kinzel, who plans to retire this year. Q said in its filing with the SEC that it has received reports that the board has considered Mark Shapiro as a possible replacement for Mr. Kinzel.

Read more from The Toledo Blade.

Sunday, April 24, 2011 12:51 AM

I was going to comment but figured there was no point lol.

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Sunday, April 24, 2011 1:13 AM

But all the wonderful stuff was done at the expense of the value of all the previous shareholders' investments. They're the ones who shoulder the risk, not the guy who pays $50 at the gate, or $25, or whatever the going rate is that day in that park. The CEO's, whoever that may be, first priority has to be to the shareholders, not to the people who want Q-bots or flamethrowers in the parks.

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Sunday, April 24, 2011 1:38 AM

RatherGoodBear said:
The CEO's, whoever that may be, first priority has to be to the shareholders, not to the people who want Q-bots or flamethrowers in the parks.

But isn't the catch 22 the fact that without giving priority to the customers, you don't have anyone coming through the gate to make the shareholders happy?

But all the wonderful stuff was done at the expense of the value of all the previous shareholders' investments

In the case of SF, the shareholder were screwed long before the trigger was pulled. The only ones who lost were those that followed Burke and Co. into the abyss and Shapiro's inevitable wrath.

Just like CF's current shareholders seem to be following Kinzel into an eerily similar abyss. Is the next CEO waiting there with the mercy kill too? And if so, who's fault is it? The guy fixing the previous CEO's mistakes or the shareholders for not seeing the writing on the wall?

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Sunday, April 24, 2011 7:03 PM

If the unitholders were blindly folowing Kinzel, there wouldn't be any unitholders left.

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