Six Flags Entertainment Corp. (SXFL) said Wednesday that Alexander Weber, Jr., the former president and CEO of Paramount Parks, will serve as the company’s interim chief executive officer until a permanent replacement can be obtained.
The theme park operator’s board has retained an executive search form to review candidates from both within and outside of the company.
"The company has made great strides to improve park operations and has significantly reduced its outstanding debt, paving the way for Six Flags to continue investing in its operations to provide an even more enjoyable experience for the whole family," Weber said in a statement.
The amusement park chain is attempting to reduce its debt and announced a plan to cut debt from $2.7 billion to $1 billion last month, after filing for Chapter 11 bankruptcy protection last June.
Weber will replace former chief executive Mark Shapiro, who took the position in 2006 after working as an executive for ESPN.
