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SeaWorld Entertainment Corporate News (Old Leadership Thread)

Seaworld is offering to pay their executive officers 7M over the course of 2 years if they stay till 2022. This after they furlough 90 % of their workers and cut their health benefits. Nice priorities, guys. Seaworld needs to burn.
 
Ive never supported this company and their treatment of animals so I feel for the workers who are laid off/furloughed but I pray Universal or another major company comes in and sweeps them out. They sound beyond scummy and while the coasters look cool I'm glad I've never bothered spending money at a Seaworld park. Again I feel for the workers but if anything is gonna go because of all this, may as well be Seaworld Imo
 
Seaworld is offering to pay their executive officers 7M over the course of 2 years if they stay till 2022. This after they furlough 90 % of their workers and cut their health benefits. Nice priorities, guys. Seaworld needs to burn.
I really think people are misunderstanding this. They are stock options, not cash for the execs. They ONLY get them if they stay with the company for the next two years, so they have a vested interest in making the company successful. This is to offset the pay reductions they are currently taking. It sucks they furloughed their workforce, but with no income coming in and the high overhead of keeping thousands of animals something had to be done.

It's not like they fired everyone just to give bonuses. This is the promise of a future repayment and incentive to stay and make the company a success again when they come out of this.
 
I really think people are misunderstanding this. They are stock options, not cash for the execs. They ONLY get them if they stay with the company for the next two years, so they have a vested interest in making the company successful. This is to offset the pay reductions they are currently taking. It sucks they furloughed their workforce, but with no income coming in and the high overhead of keeping thousands of animals something had to be done.

It's not like they fired everyone just to give bonuses. This is the promise of a future repayment and incentive to stay and make the company a success again when they come out of this.


I get it. It's still horrible optics.
 
I didn't want to start a new thread for this yet, but there's now speculation that Hill Path, SeaWorld's majority shareholder, is pushing for bankruptcy. They're also speculating the parks trying to shed their collections of animals to make them more attractive to buyers.

 
but there's now speculation that Hill Path is pushing for bankruptcy


Scott Ross :lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:

Sorry, now that that's out of the way... it would be a travesty if they fire sale the animals. They've never been short on places they could sell them but a lot of them might end up in places where they don't get the quality of care they would receive at SW or a top US zoo.
 
Didn't want to make new thread for this and couldn't find a more appropriate one, but if Seaworld somehow does go under, then I could see Aquatica being picked up almost immediately. Maybe even by Universal. It's a good value purchase, with a great location and almost no connection to the animal controversy. You wouldn't even need to add much to it, SWE has added 4 different major attractions to Aquatica in the last 6 years (Ihu's Breakaway Falls, Ray Rush, KareKare Kurl, Riptide Race).
 
In recent news, SW has fired their Chief Operating Officer and replaced him with Tom Iven who comes from Six Flags.



I'm curious, is COO the kind of person who can tell the parks to open rides up? Particularly ones that are just standing there?
 
It was interesting to see in the press release that they were emphasizing Tom Iven's experience with acquisition of other parks while at Six Flags. I know they keep mentioning they want to acquire additional parks and create more Sesame Places.

Also, interesting to see this was an immediate termination, but there was a replacement in place. This was planned by someone, but I guess the old COO was blindsided.
 
Wasn't he the guy pushing for another round of layoffs and cutbacks in capital expenditures? I think this was a good move on the board's part because I assume he was allowed to resign.
 
Wasn't he the guy pushing for another round of layoffs and cutbacks in capital expenditures? I think this was a good move on the board's part because I assume he was allowed to resign.
I heard that, the board has been brought up as a catalyst for people's departure.
 
Bunch of moves and changes within the upper management announced: SeaWorld Entertainment, Inc. Announces Eight Leadership Promotions and Organizational Changes to Accelerate Business Transformation, Performance and Growth

So now there will be someone at the corporate level overseeing all Florida parks, and someone overseeing all other parks.

The CFO has now been named "Chief Transformation Officer" with the mission to look for ways to streamline operations and a new CFO has been appointed. SWO, Aquatica Orlando/Discovery Cove, and SeaWorld San Antonio all have new park presidents with their former presidents taking on the new corporate Florida/Non-Florida oversight positions.
 
Bunch of moves and changes within the upper management announced: SeaWorld Entertainment, Inc. Announces Eight Leadership Promotions and Organizational Changes to Accelerate Business Transformation, Performance and Growth

So now there will be someone at the corporate level overseeing all Florida parks, and someone overseeing all other parks.

The CFO has now been named "Chief Transformation Officer" with the mission to look for ways to streamline operations and a new CFO has been appointed. SWO, Aquatica Orlando/Discovery Cove, and SeaWorld San Antonio all have new park presidents with their former presidents taking on the new corporate Florida/Non-Florida oversight positions.
The Company that plays musical chairs...again and again and again.....Lack of stability signals a troubled company.....Seems like forever since the Busch family ran the parks so well.
 
I'm trying to be positive and say they're "finding their footing".

Their stock is doing well, so that's something. I'm guessing that Cedar Fair shareholders may be a bit upset they turned down the $70 a share SW offered since their stock is down in the low $40's. I wouldn't be surprised to see them make another bid or buy other parks out there...
 
SeaWorld Parks had a strong Q1 report today:

Looking forward to conference call info to see if we learn more about the proposed hotels...

(Perhaps a Mod could change the title of this thread to something more generic like SeaWorld Parks Corporate News?)
 
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