Six Flags Entertainment has appointed Richard Haddrill as Executive Chairman, as activist investor Jana Partners steps up pressure on the theme park operator to explore a potential sale, according to a report by Reuters.
The leadership change follows a letter from Jana calling on the company to immediately install a new chair and engage with potential buyers. The hedge fund has raised concerns over the board’s ability to deliver value for shareholders after months of private discussions.
Marilyn Spiegel, who was appointed Chair in January, will transition to Lead Independent Director. She has served on the board since 2023.
Haddrill brings prior boardroom and executive experience, having served as Executive Vice Chairman at Scientific Games and Chief Executive at Bally Technologies.
The activist investor, led by Managing Partner Scott Ostfeld, has publicly backed Chief Executive John Reilly, who took on the role in November, but has continued to push for broader governance changes. Investors now have a limited window to launch a proxy fight by nominating alternative director candidates.
Six Flags’ share price has risen 10% year to date, but remains down 56% over the past 12 months, underscoring ongoing investor concerns about performance.
