Cedar Fair announces changes to its board of directors

SANDUSKY, Ohio–(BUSINESS WIRE)–Cedar Fair, LP (NYSE: FUN), a leader in regional theme parks, water parks and immersive entertainment, today announced the appointment of two new members to its Board of Directors ( “Board”), as well as the resignation of two current directors, all changes taking effect on October 3, 2022.

The new directors include Michelle McKinney Frymire, former chief executive of CWT (formerly Carlson Wagonlit Travel), and Jennifer Mason, global director, treasurer and risk management for Marriott International. The outgoing directors are Debra Smithart-Oglesby, president of O&S Partners, and Lauri M. Shanahan, former chief administrative officer of Gap, Inc., who have both served on Cedar Fair’s board of directors since 2012.

“Debra Smithart-Oglesby and Lauri Shanahan have been exemplary directors and, on behalf of the Board, management and our unitholders, I would like to thank them for their leadership and support over the past decade,” said said Daniel J. Hanrahan, president of Cedar Fair. table. “Their insight and guidance over the years has been invaluable, particularly during the COVID-19 pandemic, when their wise counsel has proven to be extremely beneficial to this organization. I wish Debra and Lauri well in their future endeavours.

“Separately, I am delighted to welcome Michelle McKinney Frymire and Jennifer Mason to the Company’s Board of Directors,” Hanrahan continued. “Combined, Michelle and Jennifer bring to Cedar Fair over 40 years of executive leadership and senior management experience in the travel, leisure and hospitality industries. Their extensive experience in major global organizations, including their knowledge and experience in the areas of strategic planning, finance, marketing and risk management, will be a welcome addition to Cedar Fair. I am confident that each will bring a fresh perspective to the board that will only strengthen our ability to support the company’s management team in future growth and value creation for our unitholders.

About Michelle McKinney Frymire

Ms. Frymire has extensive management and financial experience with public and private companies. She served as President and CEO of CWT (formerly Carlson Wagonlit Travel), a leader in travel management technology, from May 2021 to May 2022, when she led the company through the pandemic, driving the company’s global strategy and overseeing major investments in the company. product and technology platforms. Prior to serving as CEO, Frymire served as President and Chief Financial Officer, responsible for global business strategy and transformation. Prior to joining CWT, Frymire served as Chief Financial Officer for US Risk Insurance Group, LLC, a private specialty lines underwriting manager and wholesale broker, from 2017 to 2019. From 2015 to 2017, she served as Chief Financial Officer for King Collision Repair Center Service. From 2009 to 2015, Frymire held various positions for The Service Master Companies, Inc., most recently as Vice President, FP&A and Corporate Strategy, as well as Chief Financial Officer of TruGreen from 2009 to 2013. 2005 to 2009 , Frymire served as Chief Financial Officer, Vacation Ownership for Starwood Hotels & Resorts Worldwide, Inc. From 1998 to 2005, Frymire held various positions at Delta Air Lines, Inc., including Vice President of Finance, Marketing, international, network and technology. From 1994 to 1998, she was general manager of financial planning, analysis and systems for Continental Airlines. Finally, from 1991 to 1994, Frymire was senior financial analyst, FP&A at American Airlines Group, Inc.

Ms. Frymire is a director of the board of directors and a member of the audit, nominating and governance committee of Spirit Realty Capital, Inc., a REIT listed on the NYSE. She also sits on the board of directors of Sonder, a NASDAQ-listed hotel company, where she sits on both the audit committee and the nominating, corporate governance and social responsibility committee. Frymire earned his Bachelor of Arts in Economics from Austin College and an MBA from the University of Texas at the Austin McCombs School of Business.

About Jennifer Mason

Ms. Mason is Global Head, Treasurer and Chief Risk Officer at Marriott International, the world’s largest hospitality company with 30 brands and more than 8,000 properties in 139 countries. In her role at Marriott, she oversees global capital markets and hotel finance, financial strategy and capital allocation, financial risk management, global capital operations and treasury services, and is responsible for the enterprise risk management function, including insurance, claims, business continuity and global safety and security. Prior to her current role, Mason was Chief Financial Officer for the United States and Canada Division, where she led financial management responsible for P&L, budgeting, forecasting, cash management, internal controls, assets and feasibility. Since 1992, Mason has held several leadership positions at Marriott, including Senior Vice President of IT Business Planning and Partnership, and Senior Vice President of Sales Planning and Marketing Support. During his first 16 years at Marriott, Mason held several positions of increasing responsibility in the areas of internal audit, corporate financial planning and analysis, hospitality finance, and business development. . She served as Regional Director for the Mid-Atlantic Region and Vice President, Finance Business Partner for Sales and Marketing, before assuming her role as Senior Vice President.

Mason received his Bachelor of Science in Commerce with a concentration in Finance from the University of Virginia, McIntire School of Commerce, and an MBA from The Wharton School at the University of Pennsylvania.

About the Cedar Fair

Cedar Fair, LP (NYSE: FUN), one of the world’s largest regional recreation center operators, 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, including 11 amusement parks, four separately enclosed outdoor water parks and resort accommodations totaling more than 2,300 rooms and over 600 luxury RV sites. Cedar Fair parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario.

Forward-looking statements

Certain of the statements in this press release that are not historical in nature constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company’s expectations, beliefs, objectives and strategies regarding the future. These forward-looking statements may involve risks and uncertainties that are difficult to predict, may be beyond our control, and may cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee that these expectations will prove to be correct or that the Company’s growth strategies will achieve the intended results. Important factors, including the impacts of the COVID-19 pandemic, general economic conditions, adverse weather conditions, competition for consumer time and leisure expenditures, unforeseen construction delays, changes in plans and Company’s capital investment projects and other factors discussed from time to time by the Company in its filings with the Securities and Exchange Commission (the “SEC”) could affect attendance at Company’s parks and Company’s growth strategies, and cause actual results to differ materially from the Company’s expectations or to fluctuate or decrease. Additional information about risk factors that could affect the Company’s business and financial results is available in the Company’s Annual Report on Form 10-K and in the Company’s filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, information, circumstances or otherwise occurring after the publication of this document.

This press release and earlier releases are available under the News tab at http://ir.cedarfair.com

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