Six Flags CEO Richard Zimmerman to step down by end of 2025.

Six Flags CEO Richard A. Zimmerman will step down by the end of 2025. The Board has commenced a search to identify the Company's next CEO. Zimmerman will continue to serve as CEO until a successor is appointed.

Charlotte, NC - Six Flags Entertainment Corporation (NYSE:FUN), the $3.1 billion market cap amusement park operator, has announced that President and Chief Executive Officer Richard A. Zimmerman will step down from his position by the end of 2025. The board has initiated a search process with assistance from a global executive search firm to identify the company's next CEO.

Zimmerman, who has been with the company since 1987, will continue to serve as CEO until a successor is appointed and will remain on the company's board of directors following the transition. He has successfully led Six Flags through a period of significant evolution, overseeing the merger between Cedar Fair and Six Flags, which was completed in July 2024. The merger has allowed the company to make significant progress on integration efforts and cost synergy goals.

The announcement comes as Six Flags manages a significant debt burden, with a debt-to-equity ratio of 2.99. Despite the challenges, the company's stock has declined over 32% in the past six months, though analysts expect both sales and net income growth this year. The company generates annual revenue of $2.81 billion and currently operates 27 amusement parks, 15 water parks, and nine resort properties across 17 states in the U.S., Canada, and Mexico.

The board has not specified a timeline for the search process or the appointment of a new CEO. However, the company has scheduled a conference call today at 10 a.m. EDT to discuss the second-quarter results for 2025 and the business outlook.

In other recent news, Six Flags Entertainment has faced several analyst adjustments and credit outlook revisions. Stifel lowered its price target for Six Flags to $43, citing adverse weather trends during the second quarter of 2025 that significantly impacted visitor numbers. Mizuho also reduced its price target to $36 due to attendance concerns, noting that Six Flags has been the worst-performing stock in its coverage universe this year. UBS adjusted its price target to $40, pointing to weaker attendance during June and the July 4th weekend. Guggenheim cited similar weather-related challenges, reducing its target to $48 and highlighting the impact on season pass sales. Additionally, S&P Global Ratings revised Six Flags’ credit outlook to negative from stable, maintaining a ’BB’ issuer credit rating.

References:
[1] https://za.investing.com/news/company-news/six-flags-ceo-richard-zimmerman-to-step-down-by-end-of-2025-93CH-3821939
[2] https://www.investing.com/news/company-news/six-flags-ceo-richard-zimmerman-to-step-down-by-end-of-2025-93CH-4172364
[3] https://www.investing.com/news/assorted/six-flags-ceo-richard-zimmerman-to-step-down-by-end-of-2025-432SI-4172342
[4] https://www.barchart.com/story/news/33915210/six-flags-announces-ceo-succession-plan