Six Flags Entertainment Corporation (NYSE: FUN) has announced the appointment of Jonathan Brudnick, a partner at Sachem Head Capital, to its board of directors, effective immediately. 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.
This appointment comes as Selim Bassoul, executive chairman, and Daniel J. Hanrahan, lead independent director, are set to step down from the company’s board of directors effective December 31, 2025. Following the departure of Bassoul and Hanrahan, the Six Flags board will expand from 12 to 13 directors, 11 of whom are independent. Subsequently, the board size will decrease to 11, with 10 independent directors.
In connection with Brudnick’s appointment, Six Flags has entered into a cooperation agreement with Sachem Head, which includes standstill, voting, and confidentiality commitments, among other provisions.
Jonathan Brudnick brings significant capital markets and transaction experience to the board, and his appointment is seen as advancing the board’s ongoing refreshment process. Brudnick stated, "We invested in Six Flags because we strongly believe in the potential of the business and that numerous pathways exist to addressing the company’s current undervaluation."
Six Flags Entertainment Corporation (NYSE: FUN) is the largest regional amusement-resort operator in North America, with 27 amusement parks, 15 water parks, and nine resort properties across 17 states in the U.S., Canada, and Mexico. The company is focused on providing fun, immersive, and memorable experiences to millions of guests every year with world-class coasters, themed rides, thrilling water parks, and resorts. 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.
