Six Flags Corporate Discussion Thread

P. 156: Mike Spanos to become President & CEO of Six Flags
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Re: Six Flags Corporate Discussion Thread

Postby Mike240SX » Fri Oct 11, 2019 9:23 pm

Haha. Nice.
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Re: Six Flags Corporate Discussion Thread

Postby Kanakoonthecoasters » Sat Oct 12, 2019 7:32 am

Oh, you mean Mary? I don't mind them, to be honest.
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Re: Six Flags Corporate Discussion Thread

Postby michaellynn4 » Mon Oct 14, 2019 6:54 am

Mike240SX wrote:Where are they going? What's your source, Little Miss 9 posts?


What I think she's referring to is the fact that none of the 2020 additions are themed to Cyborg.
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Re: Six Flags Corporate Discussion Thread

Postby jedimaster1227 » Tue Oct 22, 2019 2:23 pm

It is being reported that Six Flags is being courted to relocate their headquarters to Globe Life Park in Arlington. This shift would move the company's HQ from Grand Prairie.

https://www.star-telegram.com/news/local/arlington/article236256978.html

Globe Life Park could soon see a new tenant: Six Flags. A deal to move the theme park company’s world headquarters to Arlington could help bring new use to the facility former President George W. Bush once called a “cathedral.”

The city council unanimously approved Tuesday night an offer to reimburse the company up to $6 million to make extensive renovations to the existing office space behind center field. In return, Six Flags would sign a 15-year lease from the Rangers on the space owned by the city. Also, Arlington is pledging an additional $3 million in city investment.

There’s still paperwork to sign between the Rangers, Six Flags and the city, but Deputy City Manager Jim Parajon said after Tuesday’s city council meeting the move will “almost certainly” happen. Six Flags, currently based in Grand Prairie, operates 25 properties in North America including theme parks, amusement parks and water parks. Parajon said the need for renovations is legitimate, considering the office space is two decades old. He said one of the biggest incentives for the city is the continued use of the facility and the funding for maintenance. It’s expected to offset $20 million in operating and maintenance costs.

Councilwoman Helen Moise said it’s an opportunity to ease public concern that the ballpark will not see enough use after the Rangers leave.

Arlington said most of the reimbursement money — about $5.3 million — will come from payments the Rangers still owe the city. The remaining $720,000 would come out of the city’s budget. The $3 million investment into Six Flags will be split into $200,000 annual payments to the amusement park company.

The city document estimates that Six Flags’ headquarters would bring 176 jobs to the city, totaling a payroll of $331 million over 15 years.

Globe Life Park also will be home to the Dallas Renegades, a team in the XFL that kicks off in February 2020, along with the North Texas Soccer Club.
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Re: Six Flags Corporate Discussion Thread

Postby coasterbill » Tue Oct 22, 2019 5:41 pm

I thought the Turner Field thing was awful but this is nuts. They’re practically rubbing this in the taxpayer’s faces at this point. :lol:

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Re: Six Flags Corporate Discussion Thread

Postby bigboy » Wed Oct 23, 2019 8:28 am

A 15 year lease is incredibly optimistic since I have serious doubts that the old stadium will still be standing in 15 years. The Rangers and the city have the option to tear it down and I can't see the value of the office space and the small team tenants being worth the upkeep and maintenance of such a large facility. At some point, it's going to make huge financial sense to redevelop the land or use for parking.

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Re: Six Flags Corporate Discussion Thread

Postby sfkk » Fri Oct 25, 2019 5:26 pm

So the big question of the night. Will Spanos continue the cheesy video precedent set by Jim Reid Anderson? If I had to guess I’d say no.

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Re: Six Flags Corporate Discussion Thread

Postby Jew » Fri Oct 25, 2019 7:47 pm

bigboy wrote:A 15 year lease is incredibly optimistic since I have serious doubts that the old stadium will still be standing in 15 years. The Rangers and the city have the option to tear it down and I can't see the value of the office space and the small team tenants being worth the upkeep and maintenance of such a large facility. At some point, it's going to make huge financial sense to redevelop the land or use for parking.


I have no doubt the playing field and stands will ultimately be redeveloped into something else after the XFL folds and no one cares about minor league soccer, but an office building is the definition of a "redevelopment." A 15 year lease is gold if you're a landlord. Especially if you're a taxpayer in Arlington who has been royally screwed over and over by stadium subsides.
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Re: Six Flags Corporate Discussion Thread

Postby jedimaster1227 » Wed Oct 30, 2019 5:59 am

Six Flags has announced Jim Reid-Anderson's successor as President and Chief Executive Officer of Six Flags, Mike Spanos. Mike Spanos was previously the CEO of PepsiCo for Asia, Middle East and North Africa.

Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company and the largest operator of waterparks in North America, today announced that it has appointed Mike Spanos as President and Chief Executive Officer effective November 18, 2019, and as a member of the Board of Directors effective immediately. Mr. Spanos will be relocating to the Dallas-Fort Worth area with his family.

The company’s announcement follows a thorough search process led by a special committee of the Board of Directors. Jim Reid-Anderson, Chairman, President and CEO, will resign as a director and an officer of the company effective November 18, 2019. As of that date, Richard Roedel, who has served on the Board of Directors since December, 2010, will be appointed Non-Executive Chairman of the Board.

Mr. Spanos, 55, most recently served as Chief Executive Officer of PepsiCo, Asia, Middle East and North Africa (AMENA). AMENA is a sector with $6.0 billion in revenue that spans more than 43 countries with 20,000 direct and 115,000 indirect employees across food and franchise beverage operations, contributing $1.2 billion in operating profit. Under his leadership, the company set a new strategic direction that accelerated both top line and operating profit growth over multiple years through a transformational agenda, first in the Greater China region and then across the AMENA sector, generating significant shareholder value in relation to accelerated revenue, profit, and market share growth.

“Mike is a proven value creator and results-oriented leader, with a strong track-record in operationally intensive businesses both in North America and internationally,” said Jon Luther, Six Flags Independent Lead Director. “His strong strategic ability, marketplace intuition and people leadership skills make him ideal to lead Six Flags.”

Mr. Reid-Anderson added, “As a major investor in Six Flags, I have the utmost confidence in Mike’s ability to further supercharge our growth initiatives, continue to drive innovation, and deliver significant short, medium and long-term value for our stakeholders.”

“I am thrilled to join the dedicated and talented employees of Six Flags,” said Mr. Spanos. “Jim has built an amazing legacy, and I look forward to the next horizon of growth. It is a privilege to be able to lead such a superb organization.”

Mr. Spanos previously held commercial general management roles of increasing responsibility at PepsiCo since 1993, first starting as a frontline territory manager in North America. He has served across multiple international markets for more than seven of his 25 years with PepsiCo, including assignments in Eastern Europe, Asia, the Middle East and North Africa. Before joining PepsiCo, Mr. Spanos served in the United States Marine Corps from 1987 to 1993. He is a graduate of the US Naval Academy with a B.S. degree in History, and received his M.S. degree in Organizational Behavior from the University of Pennsylvania.
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Re: Six Flags Corporate Discussion Thread

Postby grsupercity » Wed Oct 30, 2019 6:04 am

They better not become Pepsi parks lol
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