Cedar Fair investors reject nomination proposal
Friday, June 3, 2011
SANDUSKY, Ohio (AP) — Shareholders of America’s third-largest amusement park chain have turned down a proposal that would have allowed them to nominate members for the company board.
Sandusky, Ohio-based Cedar Fair Entertainment Co. announced the results Thursday.
The vote comes after investors in January elected to block company officeholders from serving as board chair. About two weeks later, the company removed then-chair and chief executive officer Richard Kinzel from the post and appointed board member C. Thomas Harvie.
Kinzel remains the company’s president and CEO. He says Cedar Fair takes input from investors seriously and actively seeks it out.
The January changes came after the company’s largest investor charged that chief leaders had mismanaged the company’s parks.
Cedar Fair operates 18 amusement and water parks, including Cedar Point and Kings Island in Ohio and Knott’s Berry Farm near Los Angeles.