Six Flags CEO Quits Despite Bankruptcy Approval


In an unexpected move, the Chief Executive Officer (CEO) of the popular theme park operator Six Flags, Mark Shapiro has submitted his resignation. The former ESPN executive had been on the job for 4 years. His resignation took place less than 2 weeks after the bankruptcy court officially accepted the Chapter 11 reorganization plans.

Six Flags’ chairman is Daniel M. Snyder who also owns the Washington Redskins. Snyder bought the company in 2005 after a protracted proxy war. However he was soon forced to file for Chapter 11 bankruptcy because of the company’s insurmountable debt load of $2.4 billion left by the previous owners.

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