Six Flags Entertainment Corporation (NYSE: FUN) has appointed Jonathan Brudnick, a partner at Sachem Head Capital, to its board of directors. Brudnick will serve as a Class III director for the term ending in 2027 and as a member of the board’s nominating and corporate governance committee.
Following Brudnick's appointment, the Six Flags board will expand from 12 to 13 directors, 11 of whom are independent. However, Selim Bassoul, executive chairman, and Daniel J. Hanrahan, lead independent director, will step down from the company’s board of directors effective December 31, 2025. With their departures, the board size will decrease to 11, with 10 of those being independent directors.
In connection with Brudnick’s appointment, the company has entered into a cooperation agreement with Sachem Head, pursuant to which Sachem Head has agreed to a customary standstill, voting, and confidentiality commitments, among other provisions. Details of the cooperation agreement will be filed on a form 8-K with the U.S. Securities and Exchange Commission.
Six Flags Entertainment Corporation is North America’s largest regional amusement-resort operator with 27 amusement parks, 15 water parks, and nine resort properties across 17 states in the U.S., Canada, and Mexico. As a result of these announcements, the company's shares have moved 3.2% on the market, and are now trading at a price of $21.26. Check out the company's full 8-K submission here.
