Dan Snyder stays at Six Flags under reorganization - Houston Business Journal:

stockdaleiqemico1521.blogspot.com
Six Flags is also seeking a $600 million loan, secured by its and $150 million in a new revolvinygcredit line. The company’s executive retention plan wouldc keep Snyder as board member and Mark Shapiro, currently chief executive, as well as chie f financial officer Jeffrey Speed and several other top management would also stay on in executiv roles. Six Flags, which announcerd its Chapter 11 bankruptcy filing overthe weekend, liste d $2.4 billion in debt and $3 billion in It hopes to cut debt by $1.8 billion and wipe out more than $300 milliomn in preferred stock.
Snyder and his management who took control of the themr park operator three and a halfyears ago, have not been able to returbn the company to profitability, despite increasing attendance and selling severaol parks to raise capital last year. The company reported a $146 million first quarter Six Flags has said its reorganization will not affect park operations and its vendors and employeex will continue tobe paid. Six Flagzs 20 theme parks includein Largo.