Cedar Fair investor wants a part in CEO search

(INCLUDES PDF) Cedar Fair's biggest investor has spoken up again, this time demanding to be consulted as the amusement giant searches for a new CEO.
Tom Jackson
Dec 11, 2010

(INCLUDES PDF)   Cedar Fair’s biggest investor has spoken up again, this time demanding to be consulted as the amusement giant searches for a new CEO.

Texas investment banker Geoffrey Raynor owns about 18 percent of Cedar Fair’s voting units.

Two of his companies, Q Funding III and Q4 Funding, sent a letter to Cedar Fair’s board on Thursday, requesting the current CEO and board chairman, Dick Kinzel, not be allowed to handpick his successor.

A copy of the letter was filed with the U.S. Securities and Exchange Commission.

The letter reiterates Raynor’s position that Cedar Fair should be paying cash distributions of at least $1 a year.

Cedar Fair has called a Jan. 11 special meeting for unitholders to consider two proposals from Raynor: Increase cash distributions to unitholders, and separate the jobs of board chairman and CEO. 

Read Q Funding's letter by clicking on the PDF below. 

Comments

Cowboy

Sounds reasonable.  Let's jack that dividend up baby!