Leave Feedback

Cedar Fair board knocks Q proposals

Tom Jackson • Dec 13, 2010 at 12:57 PM

Cedar Fair's board of directors says that two proposals from Q Investments will hurt the amusement park company's long-term prospects and disrupt the company's search for a replacement for CEO Dick Kinzel, who is retiring.

The letter sent to all Cedar Fair investments points out that the board's position is unanimous, and that the Q Investments proposal is even opposed by the two new members that Q Investments placed on the board, Eric Affeldt and John Scott.

Unitholders will be voting on the two proposals in a special meeting next month. Q has asked unitholders to tell the company to emphasize paying cash dividends over paying off debt, and to separate the jobs of chief executive officer and chairman of the board.

Recommended for You