SeaWorld Entertainment Corporate News (Old Leadership Thread)

[bob albert]

I met Carl a few times. He seemed like a decent guy.

 

[shiekra38]

I can’t wait to here the details in a few weeks. These internal conflicts always seem to be out in the open after a while.

It seemed he was bent on cutting things like animal experiences, which is what sets Sea World parks apart from the others. I get that Shamu is controversial, but the other animal experiences are critical IMO

 

[SukaVayne73]

I met Carl a few times. He seemed like a decent guy.

Yes Carl Lum is a great guy. I worked with him when he was at BGW. He was always so friendly and would always chat it up with me. His wife was also very nice.
I moved away from Williamsburg and down here to Orlando in 2016, same year Carl left BGW and went to SWSA. Also Kevin Lempke is a great guy. I wonder what is up with all these Park Presidents leaving the parks and what is gonna on, but just sounds like a familiar thing to me over and over with SWP&E.
Hope the next CEO is a much better fit and helps make the parks a better place with more upgrades and to update stuff within the parks as well.

 

[Thatguyoverwhere]

For once I'm actually not that upset about another CEO leaving. Carnival Guy, whose name I never even bothered learning, was a bad fit. He seemed intent on making the SeaWorld parks just like a Carnival cruise: cheap and uninspired, and with entertainment that's not very entertaining. In retrospect, I can actually see how he might have driven out some of the park presidents who probably weren't on board (haha boat puns) with his vision for the parks. I just hope that his departure will mark the end (and hopefully the reversal) of the extreme guest-facing staffing and budget cuts. I've lost count of all the ways SeaWorld Orlando alone has been whittled down this year, from the firing of the Longshoremen to the butchering of Turtle Trek to the shortening/cheapening/removal of shows to screens on rides being left off just to save electricity. Heck, the ticketing kiosks outside the park are broken 50% of the time right now, probably because no one's being paid to keep them working. And to try to steer a chain of parks whose biggest strength is its animal experiences, away from animals, is just absurd. As the company gets back on its feet, what it needs is more theme park and animal enthusiasts in leadership, not just bean counters.

 

[Andysol]

animal enthusiasts in leadership

Exactly this.

It's amazing to me that SeaWorld hasn't pushed more what they do regarding rescues. They make a huge push for the rehabilitations they do in the wild, but why is there never a message of: "Every single sea lion and seal we have was marked for termination and SeaWorld stepped up to save them. There is no breeding at SeaWorld."
Push the fact that there is no breeding and they only save animals from euthanasia. This includes Dolphins, which they still breed about half of (at least in San Antonio). If it became a "rescue center" as it relates to animals, it could turn a big corner for them. "We learned from our mistakes and listened".

 

[shiekra38]

For once I'm actually not that upset about another CEO leaving. Carnival Guy, whose name I never even bothered learning, was a bad fit. He seemed intent on making the SeaWorld parks just like a Carnival cruise: cheap and uninspired, and with entertainment that's not very entertaining. In retrospect, I can actually see how he might have driven out some of the park presidents who probably weren't on board (haha boat puns) with his vision for the parks. I just hope that his departure will mark the end (and hopefully the reversal) of the extreme guest-facing staffing and budget cuts. I've lost count of all the ways SeaWorld Orlando alone has been whittled down this year, from the firing of the Longshoremen to the butchering of Turtle Trek to the shortening/cheapening/removal of shows to screens on rides being left off just to save electricity. Heck, the ticketing kiosks outside the park are broken 50% of the time right now, probably because no one's being paid to keep them working. And to try to steer a chain of parks whose biggest strength is its animal experiences, away from animals, is just absurd. As the company gets back on its feet, what it needs is more theme park and animal enthusiasts in leadership, not just bean counters.

Yep, this is exactly where I was going, but you made it sound smarter haha

Honestly, whomever is the Busch Gardens President seems like a good fit, and has a love for the parks.

Also, say what you will, but losing creatives like Brian Morrow and Scott Swenson really left a hole in the parks

 

[GAcoaster]

Just read an article that implied the CEO left because the board of directors was keeping him from doing much. The thought is they are really prepping the company for a sale or merger and Hill Path (who owns 35% of the stock) is really calling the shots at this point trying to make that happen.

 

[bob albert]

This park chain is going to have problems as long as they are owned by investment groups.

 

[Mad Dog]

This park chain is going to have problems as long as they are owned by investment groups.

Yes. Investment companies, by their very nature, suck every drop out of everything they buy. Even the investment groups that aren't considered the dark side, like Blackstone is, are pretty nasty too.

 

[GAcoaster]

This park chain is going to have problems as long as they are owned by investment groups.

While I am worried, I am encouraged by the fact that BGW has gone and got approvals for a 2021 coaster already. The controlling investment group has been in that position long enough that they could have or would have cancelled that if they didn't think that was the right direction for the company. Not every company is Blackstone, and some realize that if you invest it increases your income.

 

[bob albert]

While I am worried, I am encouraged by the fact that BGW has gone and got approvals for a 2021 coaster already. The controlling investment group has been in that position long enough that they could have or would have cancelled that if they didn't think that was the right direction for the company. Not every company is Blackstone, and some realize that if you invest it increases your income.

Investment firms work for investors that want short term gains. Parks are not a place for that.

 

[Mad Dog]

Investment firms work for investors that want short term gains. Parks are not a place for that.

:thumbsup:

 

[FlattestMatt]

Wasn't there a rumour a few years back (around the time Blackfish was really gaining traction) that Uni might be looking at buying Seaworld? If the above is true and the company is being prepped for a sale then could we see Universal purchasing it?

I mean almost certainly not due to Epic Universe being built and the finances required. But would be a major shakeup in the Orlando market.

 

[MakoMania]

Wasn't there a rumour a few years back (around the time Blackfish was really gaining traction) that Uni might be looking at buying Seaworld? If the above is true and the company is being prepped for a sale then could we see Universal purchasing it?

I mean almost certainly not due to Epic Universe being built and the finances required. But would be a major shakeup in the Orlando market.

Universal will not be buying SeaWorld anytime soon.

 

[GAcoaster]

SeaWorld Entertainment, Inc. Appoints Sergio D. Rivera as Chief Executive Officer and Member of its Board of Directors

The Company also appoints Neha Jogani Narang to its Board of Directors" style="margin-bottom: 1em;">The Company also appoints Neha Jogani Narang to its Board of Directors

ORLANDO, Fla., Nov.7, 2019 /PRNewswire/ -SeaWorld Entertainment, Inc. (SEAS), a leading theme park and entertainment company, today announced the appointment of Sergio (Serge) D. Rivera to the position of Chief Executive Officer and member of the Board of Directors, effective November 11, 2019. The Company also announced today that Neha Jogani Narang will be appointed to its Board of Directors, effective November 11, 2019. These appointments will increase the size of the Board of Directors to nine members.

North America, the Caribbean, Central and South America, and Polynesia." style="margin-bottom: 1em;">Mr. Rivera previously served as the President and Chief Executive Officer of ILG, Inc.'s Vacation Ownership Segment, where he was responsible for development, sales, marketing and resort operations. Prior to ILG, Mr. Rivera was the President of the Americas for Starwood Hotels & Resorts Worldwide and was responsible for the performance and growth of Starwood's brands and its owned, managed and franchised businesses in North America, the Caribbean, Central and South America, and Polynesia.

Scott Ross, Chairman of the Board of Directors of SeaWorld Entertainment, Inc. "Serge brings to SeaWorld exceptional leadership and management skills across sales, marketing, operations, development, finance and commercial management." " style="margin-bottom: 1em;">"Serge has a strong track record as a leader and operator in the hospitality and leisure industries," said Scott Ross, Chairman of the Board of Directors of SeaWorld Entertainment, Inc. "Serge brings to SeaWorld exceptional leadership and management skills across sales, marketing, operations, development, finance and commercial management."

Ross continued, "The strategy we have in place for SeaWorld continues to work and we have made good progress. We look forward to Serge's leadership as we continue to improve and accelerate our execution through enhanced marketing and communications initiatives, more effective pricing strategies, cost and capital efficiencies and the introduction of new and compelling rides, attractions and events across our portfolio."

Mr. Rivera said, "I am thrilled to join the SeaWorld team. The Company has an exceptional business model, an irreplaceable set of assets and an incredibly talented group of ambassadors who are driving extraordinary service and experiences for our guests. While very strong progress has been made executing against the long-term plan in place, I know that there's more to do to ensure that the long-term potential of the business is fully unlocked. I look forward to working with this very talented team to further improve our execution and dramatically increase shareholder value."

Rivera continued, "Importantly, I also want to express how proud I am to join an organization and team that is so committed to the highest standard of animal care and makes enormous and important contributions to conservation, animal rescue, research and education."

Marc Swanson, who assumed the position of Interim Chief Executive Officer in September 2019, will return to his former role as Chief Financial Officer. Elizabeth Castro Gulacsy, who has been serving as Interim Chief Financial Officer, will return to her former role of Chief Accounting Officer.Marc Swanson, who assumed the position of Interim Chief Executive Officer in September 2019, will return to his former role as Chief Financial Officer. Elizabeth Castro Gulacsy, who has been serving as Interim Chief Financial Officer, will return to her former role of Chief Accounting Officer.

Ross added, "We thank Marc and Elizabeth for their leadership while we conducted our search. We look forward to them working closely with Serge to drive operational excellence across the Company."

Appointment of Neha Jogani Narang to Board of Directors"

Neha Jogani Narang will be appointed to its Board of Directors." TheCompany also announced today that Neha Jogani Narang will be appointed to its Board of Directors.

Ms. Narang most recently was the director of consumer and developer marketing for Facebook where she led marketing for several businesses from inception, including Mobile App Ads, Facebook Marketplace, Facebook Platform, Profile, Pages, Events, and more.

Ross said, "We are extremely excited to have Neha join our Board of Directors. Neha has a unique and highly valuable background in consumer marketing, brand, product, digital media, ecommerce and technology. She brings to our board experience and insights that will ensure our marketing and communication efforts are fully aligned with the current realities of our customer base."

"I am honored to serve on the SeaWorld Board of Directors," said Narang. "My family and I are enormous advocates of SeaWorld, its incredible entertainment destinations, and very importantly, its commitment to education and conservation. Prior to joining the board, I spent a lot of time at SeaWorld and was fortunate to meet with the Company's zoological experts and leaders of the rehabilitation centers. What I found was an organization passionate about the health and well-being of the animals in its care and in educating guests about wildlife. As the marketing and communications functions continue to evolve, I am confident that I can bring to bear my understanding of consumer marketing and technology to help SeaWorld better connect with the communities they serve."

 

[Scott W.]

Who dat? and is this good or bad?

 

[GAcoaster]

I'm guessing it's good, but only time will tell. I 'm assuming they want someone with a hotel background so they can move forward on park based hotels in some fashion.

 

[Mad Dog]

Niles on TPI wasn't very kind, or impressed. He said "the company basically hired a timeshare salesman (referring to Rivera's most recent job) as it's CEO, so what do I know?"..........SeaWorld also posted their quarterly results. Overall company attendance was down 2.6%for the third quarter 2019(July-Sept.). Year to date attendance is down .3%. Total revenue for the year declined by 2.0%.

 

[MakoMania]

But it's important to note that the share price has increased because the figures would have been up without the impacts of hurricane Dorian.

 

[Mad Dog]

But it's important to note that the share price has increased because the figures would have been up without the impacts of hurricane Dorian.

But was the loss at Sea World Orlando, which also had hurricane scare effects in 2018 third quarter, which is the comparison here, enough to drive the total attendance of the entire chain into negative territory?