Jana Partners Urges Six Flags Sale and New Board Chair
Jana Partners urged Six Flags to explore a sale and replace its board chair. The activist investor cited board dysfunction and inconsistent decision-making.
Activist investor Jana Partners has formally called on Six Flags Entertainment Corporation to explore a sale and immediately replace the head of its board of directors, according to a letter sent to the company. The demand for strategic change at the United States amusement park operator follows months of private engagement and comes shortly after the company appointed a new chief executive and signed professional athlete Travis Kelce as a brand ambassador.
In the letter, Jana Managing Partner Scott Ostfeld expressed significant concerns regarding the board's ability to maximize shareholder value.
