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Cedar Fair CEO Matt Ouimet to step down

Edward M

Strata Poster
This isn't the biggest news or anything, but I felt it was worth a topic. He started as CEO in 2012, and there have been some good editions to Cedar Fair parks brought out since then. However, parks like Valeyfair!, Michigan's Adventure, Dorney Park, and Worlds of Fun have been sort of left to rot without many notable additions. I'm wondering what people think the new leadership will bring. Did Ouimet do a good job with the parks? Parks like Carowinds, Cedar Point, and Kings Island were treated well, but the rest of the lineup was ignored for the most park. We got Fury 325 and now RMC has started building in the parks. However, he hasn't added much to the parks until these 2018 additions. One is left to wonder what's the next step. Well, discuss away!

Here's the list of new coasters and dark rides built in the parks from 2012 to 2018:
Cedar Point: GateKeeper, Valravn, Steel Vengeance.
Carowinds: Fury 325
Canada's Wonderland: Leviathan, Wonder Mountain's Guardian
Kings Island: Banshee, Mystic Timbers
Knott's: Coast Rider, HangTime, Voyage to the Iron Reef
Kings Dominion: Twisted Timbers
California's Great America: Gold Striker, RailBlazer
Rest: N/A

As for Cedar Fair's stock, 24.69 was the price for a share in January 2012 while it is currently 63.11. Their profits were at $178 million in 2016 compared to $72.2 million in 2011. It seems fiscally his impact has been fantastic.

More than anything, will Michigan's Adventure finally be getting that long rumored Aquatrax?[/outdatedjoke]
 

Snoo

The Legend
Well he did what his stockholders wanted. Did he do anything really groundbreaking otherwise? Not really. Cedar Fair hasn't really changed significantly in that time. As you noted, most parks outside of the major additions remained untouched from an enthusiast perspective. I'm sure he did change somethings operationally in the background which have helped the stock prices soar but nothing we would notice.

I will say, the one thing I THOUGHT would happen when he rolled in would be increased focus on theming and experience rather then plopping. That, while SLIGHTLY better, hasn't really changed.
 

Zek_Teh_Kek

Hyper Poster
Wouldn't you count Rougarou and Patriot (CGA) as well?
While they may not have been new creds, they are still new experiences.
 

Hyde

Matt SR
Staff member
Moderator
Social Media Team
Some quick clarifiers: Ouimet is being shifted to a new position, Executive Chairman of the Board of Directors. In his stead, Richard Zimmerman will take over as CEO, who currently serves as COO and President of Cedar Fair (having come from Kings Dominion). So Ouimet will still be in play going forward. Zimmerman has a great track record, and should relaly excel in the role.

There were many (including myself) who hoped Ouimet's main cause as CEO would be bringing Disney's theming approach to Cedar Fair attractions. While we didn't necessarily get that in the end (though I'd argue Cedar Fair's additions underneath Ouimet and Rob Decker, head of Planning and Design, have been some of the most well thought in park chain history), we did get a CEO will excellent business sense, who helped Cedar Fair further bolster it's reputation for serving solid attendance figures and in-park spending. Ouimet did work closely with shareholders, ensuring dividends were brought back and instilled great investor confidence from many of the majority stakeholders.

None of these details will be apparent in a straight rundown of roller coaster additions; that's because amusement parks operate in a far greater aspect than that. Outside of roller coasters, there has been greater expansion of waterpark integration, the "Euro Ride Pickers" project for reclaiming old classic rides, careful forays into VR testing, and other non-thrill ride initiatives have built a sizable list of accomplishments for Ouimet as direct CEO. What's more; @Edward M listed 14 roller coaster projects across 7 parks (16 projects including floorless conversions, and let's also not forget Stinger's relocation in 2012 to Dorney) - that's nearly 2/3 of all Cedar Fair-owned properties (Gilroy Gardens is under management contract only). As to those remaining amusement parks without new roller coasters; their development plan these last 5 years has been on family thrill rides and waterpark expansions; waterpark for some of these being the arguably larger draw and revenue generator. Reading the tea leaves on these second tier parks - there isn't much that a new larger roller coaster would provide; rather a continued rounding out of other park attractions can help make them ever more "whole".

Ouimet has done very well as CEO. He gave Rob Decker greater freedom in development of ride projects, emphasized the importance of "place-making" in the amusement park experience (aka not just a peppering of roller coasters everywhere), introduced large roller coaster projects for top tier parks, and, most importantly: shifted Cedar Fair away from Pepsi products to Coke.
 

Aaron Smith

Mega Poster
Ouimet has done very well as CEO. He gave Rob Decker greater freedom in development of ride projects, emphasized the importance of "place-making" in the amusement park experience (aka not just a peppering of roller coasters everywhere), introduced large roller coaster projects for top tier parks, and, most importantly: shifted Cedar Fair away from Pepsi products to Coke.

The shift from Pepsi to Coke products was HUGE in my book.
 
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