Posted
From the press release:
Six Flags Entertainment Corporation (NYSE: FUN) (“Six Flags” or the “Company”), the largest amusement park operator in North America, announced today it will nominate Sandy Cochran, Michael Colglazier, Felipe Dutra and Steven Hoffman, to stand for election to its Board of Directors at the Company’s 2025 Annual Meeting of Stockholders. Each of the nominees, if elected, will serve as Class I Directors for a three-year term ending in 2028.
After successfully seeing the company through the first year post-merger, current directors Esi Eggleston Bracey, Michelle McKinney Frymire, D. Scott Olivet, and Enrique Ramirez Mena have each decided to resign from the Board in connection with the 2025 Annual Meeting. As such, the Six Flags Board will continue to comprise 12 directors, 10 of whom are independent.
“We thank Esi, Michelle, Scott and Enrique for their immense contributions to our legacy company boards and their valued service on the Six Flags Board during the critical, early stages of the combined company,” said Executive Chairman Selim Bassoul.
The nominations announced today follow a thorough review of the Six Flags Board of Directors and a director search process completed with the assistance of Spencer Stuart, a nationally recognized executive firm. Felipe Dutra and Steven Hoffman were identified by Six Flags shareholder Dendur Capital LP (together with its affiliates, “Dendur”).
“We’re excited at the prospect of adding Sandy, Michael, Felipe and Steven to the Six Flags Board as we work to build on our considerable momentum,” added Bassoul. “We are confident that our new nominees are uniquely qualified to help us continue advancing our strategy to unlock the full potential of the new Six Flags. We would also like to thank Dendur for its cooperative and constructive engagement throughout this process.”
Malcolm Levine, Managing Partner and Chief Investment Officer of Dendur, said “We have been long-term shareholders of Six Flags and legacy Cedar Fair because we believe in the strong fundamentals and significant potential of the business. We appreciate the Board’s commitment to enhancing its composition and willingness to collaborate to identify strong new directors. We are confident that Sandy, Michael, Felipe and Steven bring skills and experience that will help Six Flags drive profitable growth and enhance shareholder value.”
Pursuant to a cooperation agreement, Dendur has agreed to customary standstill, voting and other provisions as further described on a Form 8-K filed with the U.S. Securities and Exchange Commission.
Nominee Biographies
Sandra (Sandy) Cochran has extensive executive level and financial experience with both public and private companies. Ms. Cochran served as president and chief executive officer of Cracker Barrel Old Country Store, Inc. from 2011 through 2024. Prior to that, Ms. Cochran previously held numerous executive positions, including president and chief executive officer, at Books-A-Million, Inc. She began her career with SunTrust Banks, Inc.
Michael Colglazier is the president and chief executive officer of Virgin Galactic Holdings, Inc., a position he has held since 2020. Mr. Colglazier began his career in 1989 with the Walt Disney Company where he held various management positions, including serving as president of the Disney Land Resort and managing director of Disney Parks International from 2018 through 2020.
Felipe Dutra is the non-executive chairman of Waldencast PLC, a position he has held since 2021. He previously served as Chief Financial Officer of Anheuser-Busch InBev from 2004 through 2020, adding Chief Technology Officer responsibilities in 2014.
Steven Hoffman is the sole proprietor of Python Global Ventures, an investment firm he founded in 2018. Prior to that Mr. Hoffman was a partner and consumer sector head at Highline Capital Management LLC from 2001 through 2018. Mr. Hoffman began his career at Wertheim Schroder & Co. as an investment banking and private equity analyst.