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Cedar Fair Appoints Louis Carr to Board of Directors

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(Low)
Rhea-AI Sentiment
(Very Positive)
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management
Rhea-AI Summary

Cedar Fair (NYSE: FUN) has appointed Louis Carr to its Board of Directors, effective immediately. He will fill the remaining term of John Scott, who stepped down on September 24, 2020. Carr, with over three decades of leadership experience in the media and entertainment sectors, is recognized for his contributions to diversity initiatives. He currently serves as president of Media Sales for BET Networks. Cedar Fair operates 13 amusement and water parks across North America, focusing on providing immersive entertainment experiences.

Positive
  • Appointment of Louis Carr brings over 30 years of executive experience in media and entertainment.
  • Carr's knowledge of diversity and consumer insights may enhance Cedar Fair's brand building and market reach.
Negative
  • Transition in leadership could pose challenges in continuity and strategic direction.

SANDUSKY, Ohio--()--Cedar Fair (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced that Louis Carr has been appointed to the Board of Directors of its general partner, Cedar Fair Management, Inc., effective immediately. Mr. Carr will serve the remaining portion of John Scott’s board term, which expires in 2022. Mr. Scott, who was appointed to the Cedar Fair board in 2010, stepped down effective Sept. 24, 2020, to focus on personal business interests.

“I’m delighted to welcome Louis Carr to the Company’s board of directors,” said Dan Hanrahan, Cedar Fair’s chairman of the board. “Louis brings to Cedar Fair more than three decades of executive leadership and senior management experience in the entertainment, media and advertising industries, and is heralded by his professional peer group for his work around diversity, primarily with the African American community. Louis’s broad-based business perspective, including his knowledge and deep experience with consumer insights and brand building, will be a welcome addition to Cedar Fair’s board.”

Mr. Carr, (64), is president of Media Sales for BET Networks and is recognized as one of the most influential and prominent African Americans in the media and marketing industries. He has been responsible for more advertising dollars targeted towards the African American consumer markets than any other professional or company. Mr. Carr has served on the boards of the Ad Council; International Radio and Television Society (IRTS); Boys Hope Girls Hope (BHGH); and the American Advertising Federation (AAF). His current board posts include: The Video Advertising Bureau (VAB), formerly the CAB, The United States Track and Field Foundation (USATF) and Drake University, as well as his Board of Trustee seat at Chicago State University. In 2019, in recognition for his commitment to help others, Mr. Carr earned The International Radio and Television Society Mentorship Hall of Fame Award. He holds a B.A. in Journalism from Drake University and is the author of two books; Dirty Little Secrets and The Little Black Book: Daily Motivations for Business and Personal Growth. Mr. Carr has earned the Diversity Award from the Hyatt Corporation and another Lifetime Achievement Award from the Patricia Martin Legacy celebration honoring his work around diversity from both personal and professional standpoints. He has also been listed on NAMIC’s Most Influential African Americans list in the cable industry several times.

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 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair’s parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario. The Company also operates an additional theme park in California under a management contract.

Contacts

Investor Relations
Michael Russell, 419.627.2233
https://ir.cedarfair.com

FAQ

Who is the new board member appointed to Cedar Fair?

Louis Carr has been appointed to the Board of Directors of Cedar Fair.

What experience does Louis Carr bring to Cedar Fair?

Carr brings over three decades of experience in executive leadership within the entertainment and media industries.

What impact might Carr's appointment have on Cedar Fair's strategy?

Carr's expertise in diversity and brand building could positively influence Cedar Fair's market positioning.

Why did John Scott step down from Cedar Fair's Board?

John Scott stepped down to focus on personal business interests.

How many parks does Cedar Fair operate?

Cedar Fair operates 13 amusement parks and water parks across North America.

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