SeaWorld Entertainment stated CEO Joel Manby is stepping down because the subject park keeps to grapple with sagging attendance amid issues over animal captivity.
John Reilly, the manager parks operations officer, will take over on an interim basis. Chairman Yoshikazu Maruyama used to be additionally named meantime government chairman till an enduring CEO is found.
Manby, who joined the Orlando-primarily based corporate three years in the past, mentioned in a Tuesday remark that “this is the precise time to identify a brand new CEO because the corporate enters its next section of intensified take care of execution and enlargement.”
Regardless Of advertising campaigns to reverse harm done by the 2013 documentary “Blackfish” — including a statement two years ago that it will finish its captive breeding of killer whales — the company has failed to opposite visitors declines.
through the final quarter of 2017, SeaWorld mentioned attendance fell just about 3 p.c. For the whole 12 months, attendance at SeaWorld’s 12 parks dropped by 1.2 million, or 5.5 percent.
SeaWorld also on Tuesday posted a fourth-quarter lack of $20.4 million.
On a according to-share basis, the Orlando, Florida, company had a loss of 24 cents, that is worse than the per-proportion lack of 18 cents that Wall Boulevard had expected, in line with Zacks Funding Analysis.
Quarterly earnings of $265.5 million beat out analyst projections for $260.1 million.
Shares of SeaWorld rose 1 p.c to $15.90 in early trades Tuesday.