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SeaWorld boss steps down after film hurts attendance | SeaWorld boss steps down after film hurts attendance |
(about 9 hours later) | |
Jim Atchison, the chief executive of SeaWorld, has resigned. | Jim Atchison, the chief executive of SeaWorld, has resigned. |
The aquatic amusement park has struggled to attract visitors in the wake of a 2013 film, Blackfish, which criticised its treatment of killer whales. | The aquatic amusement park has struggled to attract visitors in the wake of a 2013 film, Blackfish, which criticised its treatment of killer whales. |
SeaWorld acknowledged in August that the film had hurt revenues at its San Diego, California park. | SeaWorld acknowledged in August that the film had hurt revenues at its San Diego, California park. |
The company's share price has fallen 44% this year, and now trades around $16 per share. | The company's share price has fallen 44% this year, and now trades around $16 per share. |
In a statement, SeaWorld said that current board chairman David F D'Alessandro would serve as interim chief executive, and that the firm would also continue with its plans to reorganise in order to save $50m by the end of 2015. | In a statement, SeaWorld said that current board chairman David F D'Alessandro would serve as interim chief executive, and that the firm would also continue with its plans to reorganise in order to save $50m by the end of 2015. |
The company said that part of the restructuring would involve job cuts. | The company said that part of the restructuring would involve job cuts. |
SeaWorld operates 11 theme parks globally. | SeaWorld operates 11 theme parks globally. |
In its most recent earnings report, it said attendance had dropped to 8.4 million visitors in the third-quarter of 2014 from 8.9 million in the same period a year earlier. | |
It attributed the decline to "a combination of factors including negative media attention in California along with a challenging competitive environment." | It attributed the decline to "a combination of factors including negative media attention in California along with a challenging competitive environment." |