SeaWorld Entertainment CEO Steps Down: CNBC

SeaWorld Entertainment CEO Joel Manbay is stepping down, CNBC reported Tuesday. Manbay has been at the helm of the company for three years as it navigated falling attendance and revenue to its shareholders.  Snow Totals Are In for Powerful Winter Storm CNBC reports that the company’s quarterly revenue of $265.5 million beat out analyst projections for $260.1 million. However, SeaWorld Entertainment’s annual losses widened to $202.4 million, or $2.36 per share. Revenue was $1.26 billion. Read more here.SeaWorld operates 12 parks, including Busch Gardens, Sesame Place and Aquatica. Sources Say Lack of Ambulance Staff Impacting Response Times The Mission Bay theme park has added several thrill rides after the decision to stop breeding orcas.Two years ago, the company said it would stop using killer whales in shows. New Evidence Revealed in Ongoing Trial of Tieray Jones Changes in the company have been connected, in part, to the release of the controversial film “Blackfish” which criticized the treatment of the park’s killer whales.In October 2017, SeaWorld Entertainment cut approximately 350 positions including some positions that were open and would not be filled. The layoffs included 79 employees at SeaWorld San Diego. In December 2016, the company cut 320 jobs across the company’s 12 parks. More than a year ago in September, the company announced it would stop paying its shareholders a quarterly dividend.
Source: NBC San Diego