Joel Manby has been appointed the new president and CEO of SeaWorld Entertainments, amid hopes the former Herschend Enterprises president and CEO can turn around the floundering company.
SeaWorld has been up against in recent times, recently reporting a
net loss of US$24.5m (€22.6m, £16.5m) for the last quarter of 2014 and a drop in visitor numbers by more than one million for the year. The anti-SeaWorld documentary
Blackfish has been the root of the problems, which include
proposed legislation banning Orca shows in California,
tumbling share value and
loss of corporate sponsors. SeaWorld has also seen a lot of negative press in regards to the treatment of its animals, most recently hitting the headlines again after the
death of a beluga whale at SeaWorld Orlando.
Manby, 55, joins SeaWorld's Board of Directors, while David D'Alessandro, who served as interim CEO in the wake of the resignation of Jim Atchison, will continue to serve as the company’s chair.
“Joel has nearly 20 years' experience and a proven track record with business models very similar to ours – multiple brands and multiple properties in the entertainment and theme park industries," said D'Alessandro. "Even in the most challenging business environments, Joel has consistently enhanced the performance of the companies he has led for customers, investors and employees alike. He has the experience and qualifications to lead our company into the future."
Serving as president and CEO of Herschend Enterprises – the largest family-owned theme park and entertainment company in the US – Manby oversaw such attractions as Dollywood, Silver Dollar City and the world-famous exhibition basketball team the Harlem Globetrotters.
While at Herschend, Manby consistently offered profitable growth, expanding the company from six to 26 properties in his 12 years in the role, while more than doubling annual EBITDA and net cash flow. Herschend reports annual attendance of more than 14 million across all of its companies.
"I am honoured to be selected as SeaWorld Entertainment's new CEO,” said Manby. “This company has tremendous brands, and for more than 50 years, families have come to our parks to learn about animals, have fun and be entertained. We are known for our exceptional operations and world-class animal care. My job is to build on that foundation while consistently improving and innovating in a competitive environment. I look forward to working with our more than 23,000 team members through the challenges ahead."
