Six Flags Names New CEO; Reilly Gets Base Salary of $1.1 Million With Millions More in Potential Cash and Stock Bonuses

Nov. 24, 2025

— Jeff Ward, Lehigh Valley News Briefs

Six Flags, the amusement-park operator that owns Dorney Park, has chosen a SeaWorld veteran as its new chief executive.

John Reilly, 57, will take over as president and chief executive on Dec. 8, the company said in a statement today. Current CEO Richard Zimmerman announced earlier that he would leave by the end of 2025.

Six Flags, formed via a 2024 merger with Cedar Fair Entertainment, has been struggling. The company’s third-quarter results fell short of expectations, and Six Flags is considering selling some parks. Six Flags acquired Dorney Park & Wildwater Kingdom in South Whitehall Township as part of the deal.

Shares of Six Flags (NYSE:FUN) closed today at $14.44, up 99 cents from Friday but less than a third of the $49.77 52-week high. The company is based in Charlotte, North Carolina. It has about $5 billion in debt.

Reilly takes a positive view of his new challenge, based on his comments in today’s statement:

 “The combination of Six Flags and Cedar Fair created an unrivaled collection of parks with immense opportunity, and I believe we can reach new heights and deliver significant near- and long-term growth,” he said.

Six Flags filed Reilly’s employment agreement with the U.S. Securities and Exchange Commission. He starts with a $1.1 million base salary, and that may reach $4.4 million based on incentives.

There are also stock bonuses that could lead to millions of dollars more in compensation, and a bonus on his three-year anniversary.

From the SEC filing:

The employment agreement provides for, among other things, an initial base salary of $1,100,000 per year, subject to annual review by the Board for possible increase. Mr. Reilly will participate in the Company’s annual bonus program with an initial target rate of 150% of his base salary and a maximum bonus of 300% of his base salary, with performance metrics established by the People, Culture & Compensation Committee of the Board (the “PCCC”). The employment agreement also provides that Mr. Reilly will receive an annual equity grant during each year of the term of the agreement (beginning in 2026) with a target value of $5,625,000 on the date of grant, to be the same as such goals approved by the PCCC for other senior executives of the Company. Mr. Reilly will also receive a day one equity grant with a target value of $7,500,000 (comprised of (i) $2,500,000 grant date value in the form of restricted stock units and (ii) $5,000,000 grant date value in the form of performance stock units) scheduled to vest on the third anniversary of the grant date subject to Mr. Reilly’s continued service with the Company and the achievement of applicable performance goals (in the case of the performance stock units) as to be set forth in the award agreement evidencing such award.

Reilly is Chief Executive of Palace Entertainment U.S. and has held executive roles at SeaWorld Parks and Entertainment. He has an MBA from the University of Miami and a B.A. from William & Mary.

Here is a link to the statement, a second link to the SEC filing, and below, a cut-and-paste version of the Reilly announcement:

Six Flags Appoints John Reilly President and Chief Executive Officer

November 24, 2025

• Proven Leader with More than 30 Years of Theme Park Industry Experience
• Track Record of Enhancing Guest Experience while Driving EBITDA Growth

CHARLOTTE, N.C.–(BUSINESS WIRE)– Six Flags Entertainment Corporation (NYSE: FUN) (the “Company”, “Six Flags” or the “Combined Company”), the largest regional amusement park operator in North America, today announced the appointment of John Reilly as President and Chief Executive Officer, effective December 8, 2025. Mr. Reilly will also join the Six Flags Board of Directors (the “Board”) at that time. The appointment concludes a robust succession planning process led by the Six Flags Board with the assistance of a leading global executive search firm.

Mr. Reilly succeeds Richard A. Zimmerman, who, as previously announced on August 6, 2025, is stepping down as the Company’s President and CEO. Mr. Zimmerman will also step down from the Company’s Board, effective December 8, 2025.

Mr. Reilly brings more than three decades of in-depth experience in the amusement and recreation industry, with significant operational management and strategic growth expertise. He most recently served as Chief Executive Officer of Palace Entertainment U.S. and Group Chief Operating Officer at Parques Reunidos, where he was instrumental in improving guest satisfaction while driving margin expansion across the company’s properties in the U.S., Australia and Europe. Prior to Parques Reunidos, he served as interim Chief Executive Officer and Chief Operating Officer at SeaWorld Parks and Entertainment, where he helped deliver meaningful EBITDA growth and total shareholder returns.

“After a thorough search process, we are thrilled to have appointed an accomplished and experienced leader with the right skillset to enable Six Flags to reach its full potential,” said Marilyn Spiegel, Chair-elect of the Six Flags Board. “John is joining at a critical moment for the Company, following the merger of Six Flags and Cedar Fair last year. With a fresh set of eyes, combined with significant experience optimizing theme park operations and performance, we believe John will harness the best of both legacy companies and will reinvigorate profitable growth at our underperforming parks.”

“I am honored to serve as Six Flags’ next President and Chief Executive Officer and look forward to working with the Board, leadership team, and talented associates to deliver results,” said Mr. Reilly. “The combination of Six Flags and Cedar Fair created an unrivaled collection of parks with immense opportunity, and I believe we can reach new heights and deliver significant near- and long-term growth. I am excited to deliver even greater experiences for our guests and value to our shareholders.”

Mr. Zimmerman said, “It has been a privilege to lead Six Flags through critical and transformative periods, and I am confident the Company is poised for tremendous growth and success. John’s leadership track record and passion for creating memorable guest experiences make him the ideal choice to serve as this incredible Company’s next leader, and I look forward to supporting a smooth transition.”

ABOUT JOHN REILLY

John Reilly is a seasoned executive with more than thirty years of experience in the amusement and recreation industry. He has a proven track record of delivering operational excellence and driving financial performance. He currently serves as Chief Executive Officer of Palace Entertainment U.S. and Group Chief Operating Officer at Parques Reunidos. Prior to Parques Reunidos, Mr. Reilly was interim Chief Executive Officer and Chief Operating Officer at SeaWorld Parks and Entertainment. He earned an MBA from the University of Miami and a B.A. from William & Mary.

SIX FLAGS ENTERTAINMENT CORPORATION

Six Flags Entertainment Corporation (NYSE: FUN) is North America’s largest regional amusement-resort operator with 26 amusement parks, 15 water parks and nine resort properties across 16 states in the U.S., Canada and Mexico. Focused on its purpose of making people happy, Six Flags provides fun, immersive and memorable experiences to millions of guests every year with world-class coasters, themed rides, thrilling water parks, resorts and a portfolio of beloved intellectual property such as Looney Tunes^®, DC Comics^® and PEANUTS^®.