Six Flags Corp. ousts CEO, names replacement
Six Flags Entertainment Corp. announced it is cutting ties with President and CEO Mark Shapiro and replacing him with an interim executive.
Alexander "Al" Weber Jr., former CEO of Paramount Parks Inc., will step in for Shapiro until a permanent replacement is found.
Officials at Six Flags Great America in Gurnee said the management change announced Wednesday should not have any effect on the day-to-day operation of the theme park.
The company is retaining an executive search firm and will consider both internal and external candidates to find a permanent replacement. Six Flags officials said Shapiro is no longer with the company.
Weber has officially been named president and interim CEO, effective immediately, according to a news release on the Six Flags website.
"I am excited to have this opportunity to serve as President and Interim Chief Executive Officer of Six Flags," said Weber. "The company has made great strides to improve park operations and has significantly reduced its outstanding debt, paving the way for Six Flags to continue investing in its operations to provide an even more enjoyable experience for the whole family."
Weber has 40 years experience in the regional theme park industry, most recently with Palace Entertainment LLC, a large water park and family entertainment center company.
Before working at Palace, Weber served as president and CEO of Paramount Parks Inc. from 2002 to 2006.
Six Flags was riding a financial roller coaster both before and during Shapiro's tenure.
The New York-based company struggled financially because of large debt loads due to past expansion sprees. Under Shapiro, the spending sprees were cut back at the Gurnee-based theme park in the previous five years.
Then, in June of 2009, Six Flags sought Chapter 11 protection to reorganize under a prepackaged plan and shed $1.8 billion in debt.
The company operates 20 amusement parks around the country.
Shapiro said in previous interviews his biggest challenge was to restore the image of Six Flags Great America. Since he took over, the park has beefed up its work force and security to better offer a clean, family-friendly experience, he has said.
• Daily Herald news services contributed to this report.
<div class="infoBox">
<h1>More Coverage</h1>
<div class="infoBoxContent">
<div class="infoArea">
<h2>Related links</h2>
<ul class="moreWeb">
<li><a href="http://investors.sixflags.com/phoenix.zhtml?c=61629&p=irol-newsArticle&ID=1425986&highlight=" target="new">Six Flags press release</a></li>
</ul>
</div>
</div>
</div>