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SeaWorld Entertainment Inc (SEAS) CEO Out, Layoffs Expected

The CEO will step down on Jan. 15

SeaWorld Entertainment Inc (SEAS) CEO Jim Atchison will step down from the position early next year.

seaworld-entertainment-inc-seas-ceo-layoffsAtchison will leave Seaworld as its CEO on January 15. His decision to step down comes at a time when attendance at the parks are down and revenue is following suite. He will leave the position with a $2.4 million payout and will temporarily be replaced by Chairman David F. D’Alessandro while the company searches for a permanent replacement, reports UT San Diego.

When Atchison steps down from the Seaworld CEO position in January, he will become the vice chairman of the board. In its search for a new CEO, the company said that it wants someone who can “better handle SeaWorld’s public-relations problems,” NPR notes.

There is also news that Seaworld is planning to cut an unknown number of jobs. Exact details of the possible layoffs are unknown, but it will be part of a restructuring effort being made by the company. SEAS employs roughly 25,000 workers, reports UT San Diego.

SEAS shares were down slightly as of Friday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/12/seaworld-entertainment-inc-seas-ceo-layoffs/.

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