CEO of Shuttered SeaWorld Resigns After 5-Month Stint
Theme park operator SeaWorld Entertainment (NYSE: SEAS) is looking for a new captain. Hired in November of 2019 to take the helm of the struggling company, Sergio Rivera informed the board of directors last week that he would be stepping down from that role, effective immediately. Rivera has also resigned as a board member.
The disruption couldn't have come at a worse time. Not only has the global coronavirus outbreak all but stopped tourism traffic, SeaWorld Entertainment's parks -- SeaWorld, Busch Gardens, Aquatica, and others -- are closed until the COVID-19 risk has abated. The company also announced early this month that 90% of its employees have been furloughed, and won't be paid during the time its parks are shut down. In the meantime, SeaWorld Entertainment's executive officers have agreed to a temporary 20% reduction in pay until its parks are reopened.
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Source Fool.com
