Parks! America Interim Chairman Issues Open Letter to Shareholders - Seite 3

Lisa Brady, our current CEO for the past 18 months, was brought on after an extensive nationwide search and hiring process. She has meaningful direct industry experience both in operating and management functions at Cedar Fair, a leading owner and operator of regional amusement and water parks, and a New York Stock Exchange-listed company. She has capital markets experience, which will be important as the Company starts to grow consistently and requires additional capital to grow into the next level of its development. For the past 18 months she has been working to correct the issues created by the Van Voorhis team and has been making measurable progress.

During the first week of April (Spring Break at our Georgia park)—which is traditionally one of the busiest times of the year—I spent several full days working with our front-line team members. One evening, I was approached by members of the team. Everyone who spoke to me was upset. Individually and collectively, our people are both concerned and angry at FC’s principals. I sympathize with them and am concerned that we might experience an implosion of our Georgia workforce if this new regime comes to power. These workers did not care for prior management but have enthusiastically bonded with Lisa Brady. Ms. Brady has been side by side in unison with all three of our park’s teams; improving benefits, standardizing operating practices and building the trust relationships with our dedicated staff to make our parks “go-to” entertainment and educational attractions.

If the Company loses Ms. Brady and the board, there will likely be a lack of investment to continue the necessary improvements needed, including at the Georgia park, to enhance their ability to attract new and returning visitors, after years of disregard by Mr. Van Voorhis. I am not fear mongering; I am sharing with you a realistic future. One can imagine what the Missouri and Texas teams are going through knowing FC has insinuated the potential sale of those venues. I am constantly thinking of the great Sun Tzu warning, “An evil enemy will burn his own nation to the ground to rule over the ashes.” In my opinion, it would be foolish to believe that our proud team members across all three parks would necessarily stay onboard with the dramatically increased uncertainty if current management and board were replaced.