SANDUSKY, Ohio–(BUSINESS WIRE)–Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced that its unitholders elected Carlos A. Ruisanchez and re-elected D. Scott Olivet and John M. Scott, III to the Board of Directors of its general partner, Cedar Fair Management, Inc., for three-year terms expiring in 2022.
The limited partners also confirmed the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm and approved an advisory vote on the compensation of the Company’s named executive officers.
“We are pleased to have Carlos Ruisanchez join our Board of Directors,” said Richard Zimmerman, Cedar Fair’s president and CEO. “We are equally pleased to retain Scott Olivet as a member of our Audit Committee and John Scott as a member of our Compensation Committee and Nominating and Corporate Governance Committee. The collective knowledge and expertise of our Board continues to be a great asset for Cedar Fair and will ensure our focus remains on building short and long-term value creation for our unitholders.”
Ruisanchez, 48, is a finance and entertainment executive with more than 25 years of experience. Most recently, he served as president and CFO, and board director, of Pinnacle Entertainment, Inc., a leading regional gaming entertainment company, until its sale in October 2018. Prior to joining Pinnacle, Mr. Ruisanchez served at Bear, Stearns & Co. as senior managing director responsible for corporate clients in the gaming, lodging and leisure industries, as well as financial sponsor banking relationships.
About Cedar Fair
Cedar Fair Entertainment Company (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive and memorable experiences, the Company owns and operates 11 amusement parks, including its flagship park, Cedar Point, along with two outdoor water parks, one indoor water park and four hotels. It also operates an additional theme park under a management contract. Its parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan and Toronto, Ontario.
Some of the statements contained in this news release constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, including statements as to the Company’s expectations, beliefs and strategies regarding the future. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, adverse weather conditions, competition for consumer leisure time and spending, unanticipated construction delays, changes in the Company’s capital investment plans and projects and other factors discussed from time to time by the Company in reports filed with the Securities and Exchange Commission (the “SEC”) could affect attendance at the Company’s parks and cause actual results to differ materially from the Company’s expectations. Additional information on risk factors that may affect the business and financial results of the Company can be found in the Company’s Annual Report on Form 10-K and in the filings of the Company made from time to time with the SEC. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.