CHARLOTTE, N.C. - Six Flags Entertainment Corp. announced that President and CEO Richard A. Zimmerman will step down by the end of 2025.

What we know:

The board has initiated a search for his successor, with Zimmerman continuing to serve until a replacement is appointed. The succession plan was revealed on August 6.

Dig deeper:

The Charlotte-based amusement park operator reported a second-quarter net loss of approximately $100 million and has reduced its full-year adjusted EBITDA outlook. The company is considering the sale of non-core assets to accelerate deleveraging. Management attributed the financial challenges to weaker attendance, a smaller pass base, increased promotions, and widespread weather disruptions. Attendance dropped 9 percent year over year, equating to about 1.4 mi

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