The Orlando-based theme park operator said Friday that it had promoted eight executives within the company. Michelle “Chelle” Adams, who was appointed SeaWorld’s CFO and treasurer last year, has been promoted to the new position of chief transformation officer. In this role, Adams will be responsible for overseeing the company’s reorganization, development and growth initiatives.
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No doubt. And why is there a chief accounting officer separate of the CFO? And it doesn't matter how many chiefs there are as long as there's Scott Ross.
She won’t be there long enough to tell them.
"But will she get them to run two trains on Montu and Mako on weekdays again?"
Montu isn't running two trains on the weekends either, so.
Most large organizations, including SIX and FUN, have a CAO and CFO.
CAO typically responsible for day-to-day accounting operations such as transactions, general ledger, cash like AP and AR, financial reporting, P&L, sometimes tax, handling audits, etc.
CFO has overarching responsibility for finance and financial reporting but also more broadly with strategy, financial planning and analysis, budgeting, treasury, investor relations and usually other non-financial areas such as IT, real estate, HR, etc. For example, both real estate and security fall under the CFO at Disney and IT falls under the CFO at Cedar Fair.
I've worked for many "large organizations," including SeaWorld, and none of them had a CAO.
The Chief Transformation Officer will oversee the company’s effort to transform into pre-bankruptcy Six Flags.
I don’t know what to tell ya. Your experience is an outlier. Perhaps it was called a Controller. I’m a CPA, almost all large organizations I’ve worked with have a Chief Accounting Officer or Controller - including SEAS two peers both have CAO’s, FUN and SIX.
With most CFOs having responsibility for areas outside of “finance” like IT, HR, legal, real estate, security, strategy, etc, they aren’t involved in the day to day of general ledger transactions, accounting standards, cash, financial reporting, etc.
I’m shocked that SEAS - a $1.5B public company - hadn’t had a CAO or Controller until now. May have been part of the reason for all the turnover.
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