Cedar Fair hires former Disney exec as president
A former Walt Disney Co. executive and hotel chain manager was named president of Cedar Fair Entertainment Co., the Ohio theme park company that owns Knott’s Berry Farm in Buena Park.
Cedar Fair announced Monday that Matthew A. Ouimet, 53, will also take over as chief executive when Dick Kinzel, 70, retires from the post Jan. 3.
Ouimet has worked for 20 years in the amusement park and hospitality industry, including 17 years with Disney.
He most recently held the post of president and chief operating officer of Corinthian Colleges Inc., a collection of for-profit colleges in the U.S. and Canada. Before that, he served as president of Starwood Hotels & Resorts Worldwide Inc. and held several posts with Disney, including president of Disneyland Resort in Anaheim and president of Disney Cruise Line.
Cedar Fair, based in Sandusky, Ohio, owns 11 amusement parks, including Knott’s Berry Farm, six outdoor water parks, one indoor water park and five hotels.
Ouimet joins Cedar Fair in the midst of a feud among shareholders over the rules to nominate members of the board of directors.
Board members nominate new board members. But Q Investments, a Fort Worth private investment firm that owns nearly 20% of company shares, has been pushing to let shareholders nominate board members.
In a statement, the investment firm said, “Regardless of whether the company hires Matt Ouimet or Warren Buffett, it does not change the fact that unitholders should have the right to nominate their own directors.”
