Six Flags Announces New Directors
January 12 2006 - 6:00PM
Business Wire
Six Flags, Inc. (NYSE: PKS) announced today that its board of
directors has unanimously elected Charles Elliot (C.E.) Andrews,
Mark Jennings and David Pauken to the board. Following the
appointment of the new directors, Paul Biddleman, Michael Gellert
and Francois Letaconnoux resigned from the board of directors. "We
thank Messrs. Biddleman, Gellert and Letaconnoux for their
long-time commitment and service on the board of directors," said
Mark Shapiro, Chief Executive Officer. "Their dedication is greatly
appreciated by all at Six Flags. We wish them well in all of their
future endeavors." Mr. Andrews is the Executive Vice President at
SLM Corporation (Sallie Mae), with responsibilities for Finance,
Accounting and Risk Management. He is also the Chairman of the
Board of the Sallie Mae Bank, a Sallie Mae wholly owned industrial
bank located in Utah. Prior to joining Sallie Mae, Mr. Andrews was
a partner at Arthur Andersen. Mr. Jennings is the Managing Partner
and co-founder of Generation Partners, a $325 million private
investment firm that acquires and provides growth capital to
companies primarily in the business & information services,
healthcare and media & entertainment sectors. Through
Generation and predecessor firms, he has invested in more than 50
companies and has served on the Board of Directors of 21 companies,
including Johnny Rockets, a leading All-American style restaurant
and entertainment company and Scientific Games, a world leader in
the lottery industry. Mr. Pauken is the Chief Operating Officer of
the Washington Redskins. In addition to managing all non-football
aspects of the organization, he played an integral role in creating
the organization's capital structure and managing its financial
relationships. Prior to joining the Washington Redskins, Mr. Pauken
served as Chief Accounting Officer for Snyder Communications from
1996-2000. From 1984 to 1996, Mr. Pauken was an auditor with Arthur
Andersen. Six Flags, Inc. is the world's largest regional theme
park company. Forward Looking Statements: The information contained
in this news release, other than historical information, consists
of forward-looking statements within the meaning of Section 27A of
the Securities Act and Section 21E of the Securities Exchange Act.
These statements may involve risks and uncertainties that could
cause actual results to differ materially from those described in
such statements. These risks and uncertainties include, among
others, the costs of reviewing and responding to the unsolicited
offer and consent solicitation, and other impacts of the proposed
offer on Six Flags' operations. Although Six Flags believes that
the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will
prove to have been correct. Important factors, including factors
impacting attendance, such as local conditions, events,
disturbances and terrorist activities, risks of accidents occurring
at Six Flags' parks, adverse weather conditions, general economic
conditions (including consumer spending patterns), competition,
pending, threatened or future legal proceedings and other factors
could cause actual results to differ materially from Six Flags'
expectations. Reference is made to a more complete discussion of
forward-looking statements and applicable risks contained under the
captions "Cautionary Note Regarding Forward-Looking Statements" and
"Business - Risk Factors" in Six Flags' Annual Report on Form 10-K
for the year ended December 31, 2004, which is available free of
charge on Six Flags' website at www.sixflags.com
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