Posts tagged Matthew Ouimet
From the Sandusky Register…
Cedar Fair stands ready to spend big money on a new roller coaster for 2013 at Cedar Point that will change the park landscape.
Code-named “CP Alt.Winged,” the coaster will have the “longest drop, run the fastest and be the longest ride” of its kind, Cedar Fair CEO Matt Ouimet wrote in Feb. 15 memo to Cedar Fair’s board of directors.
The total projected cost of the project is $25 million, a price that includes removing the park’s Space Spiral and Disaster Transport rides and restructuring the park entrance.
Ouimet was unavailable for comment Tuesday.
“We have not announced any plans for 2013 but we did announce a $25 million investment,” Alexakos said. “This will be one of the largest capital expenditures ever.”
Alexakos said that with any ride or attraction Cedar Point undertakes, the company is always looking to set records.
The Swiss-based Bolliger & Mabillard Consulting Engineers is set to design the new ride, which was described in the memo as having a “Front Gate Statement— a roller coaster that flies overhead, rolls and flies back— highly visible above guests entering the park.”
The firm designed Cedar Point’s Raptor.
A winged coaster is designed to suspend riders on wings to the sides of the rails so there is no track above or below the guest.
Engineering schematics show a proposed coaster with gravity defying twists, curves and rolls.
“Rob Decker (Cedar Fair VP of planning and design) and others have done a great job of creating a compelling, economically attractive new coaster for Cedar Point,” Ouimet wrote. “We believe this particular ride design with this particular manufacturer balances the desire for marketable innovation and risk associated with early adaptations of prototypes.”
Bolliger & Mabillard designed the first winged coaster for installation in Italy at a park known as Gardaland. The Six Flags Great American park outside of Chicago also has one of the company’s winged coasters, called X-Flight.
The new ride at Cedar Point could promise to be a work horse available to guests at almost any time they are in the park.
“Rob talked to operators of the first one in Italy and found no unanticipated negatives and very high ride reliability (less than 1 percent operational downtime).
Design plans show the new ride with a 170-foot tall lift that will fly overhead of park guests entering the park. It will have the longest track and longest ride time of any coaster of its style as it flies overhead, rolls and then fly back.
The huge roller coaster will dominate the front gate and the track will travel over a large parking area at the park.
“We have several coasters that cover parking lots,” Ouimet wrote. “Not necessarily ideal, but certainly acceptable given tight site constraints and the amount of land such attractions require.”
Disaster Transport and the Space Spiral both would have to come down if the site plan currently under consideration is chosen.
Part of the $25 million investment will also include renovations and upgrades at the park entrance from the parking lot.
Cedar Point general manger John Hildebrandt was not available for comment on Tuesday.
From the Toledo Blade…
SANDUSKY — Walking along Cedar Point amusement park’s Midway and arriving at a spot where a new light-lasers-and-fireworks show will entertain guests this June, Matt Ouimet, Cedar Fair LP’s ebullient new chief executive officer, can no longer contain himself.
“Isn’t that a great view?” he says, gazing across a plaza where a large video screen has been removed to reveal the towering Millennium Force roller coaster bathed in the sunlight of a cloudless blue sky.
“We really should be open today. What a great day,” said Mr. Ouimet, not bothering to conceal his pride in Cedar Point, which this day is devoid of people other than a handful of workers painting, repairing, and primping the grand old amusement park for its May 12 opening.
The excitement in Mr. Ouimet’s voice is audible, the bounce in his step visible, and the twinkle in the eye of the former Disney Co. executive perceptible.
Although he spent 17 years as a trusted Disney lieutenant running its historic Disneyland theme park and popular cruise line, it is clear that in Sandusky, the 54-year-old Mr. Ouimet knows he finally is captain of his own ship: Cedar Fair, the nation’s third-largest amusement park chain with 11 parks, including the flagship Cedar Point, plus six water parks and five hotels.
Mr. Ouimet, who also spent short stints running Starwood Hotels & Resorts Worldwide and Corinthian Colleges, was chosen last June to be president of Cedar Fair and heir-apparent to longtime company executive Dick Kinzel. When Mr. Kinzel retired on Jan. 1 after 25 years with Cedar Fair, Mr. Ouimet gained the CEO title and the keys to the candy store, so to speak.
The new CEO’s acumen as an amusement park executive is well documented — he developed and implemented a comprehensive strategic plan leading to a significantly improved and sustained performance for Disneyland’s 50th anniversary in 2005. And the Cedar Fair board clearly found in Mr. Ouimet a kindred replacement for Mr. Kinzel, whose fondness for walking the midway and riding the roller coasters revealed him to be both a top executive and a big kid at heart.
Mr. Ouimet acknowledged that if a staff meeting were to drag on too long, he isn’t above calling a halt and taking the participants into the park to ride a coaster, something he did one day last summer.
Above all, the new CEO said that he’s honored to be Cedar Fair’s new custodian and plans to take the company’s parks in directions they may not have gone before to enhance their value not just for customers, but also investors.
“A person once told me that there’s a difference between revering history and respecting history. Respecting history reminds you to look at what’s really important and learn from it,” Mr. Ouimet said. “Revering it means you never change anything, and if you don’t make change … we won’t be here in 20 or 30 years.
“And so I think that’s the delicate balance. When you’ve got such a loyal audience, you know you’re always going to have somebody disappointed that the ride they rode as a 5-year-old is no longer here,” Mr. Ouimet said. “But I hope they’re equally excited or more excited about what replaced it. I think that’s one of the hardest parts of my job is to try to figure out where change is good and where legacy is good.”
Though a confirmed Disney disciple — he still slips up and calls employees “cast members” about half the time — Mr. Ouimet said he has no plans to Disney-fy Cedar Fair.
Instead, he said, he plans to use lessons he learned from the premier theme-park firm wherever applicable at the Sandusky-based chain.
“It’s funny, but when I was considering this job I went back to the history here — there’s some wonderful books on it — and what you realize is there’s a lot of parallels,” Mr. Ouimet said. “I think the other thing that’s common here is the value system of the people who visit us and the people who work here,” he said.
“Disney was really founded on Midwestern values, and I think that, clearly in the Cedar Fair portfolio, that’s part of the DNA both for our guests and for our employees. That’s maybe why I feel as comfortable as I do here,” he said.
Last week Mr. Ouimet was having a hard time staying at his desk, the warm weather and sprucing up of Cedar Point beckoning him into the park like a siren’s song.
“So the good news is the weather was, I’m told, unseasonably warm. Clearly we’ve been able to get ahead of our maintenance and cosmetics and annual maintenance scheduled,” he said. “So the Millennium Force is almost fully painted, the Blue Streak is almost done, the Giant Wheel is almost done.”
However, special lighting for the park’s new nighttime show, “Luminosity: Ignite the Night,” is proving more complex than he imagined.
“That will be a little bit of crunch time, but that show doesn’t launch until the beginning of June, so I’ve got a little bit more time to work at night. But obviously when I open the park in May I don’t want the consumer to see a lot of construction,” Mr. Ouimet said.
At Disneyland, Mr. Ouimet and other Disney execs always were aware of Cedar Fair and its southern California venue, Knott’s Berry Farm. Disney never viewed Knott’s as a true competitor, Mr. Ouimet said, but it was always jealous of the Sandusky company’s ability to turn high profits.
“I studied Cedar Fair on and off for 20 years. They were known — and I give Dick Kinzel the credit for this — as great operators. … We studied them and marveled at the quality of the product they could deliver and still deliver the margins they delivered, because that was, candidly, where my focus was,” Mr. Ouimet said. “How could they do this and still deliver the returns they did to their investors?”
Mr. Ouimet admits he “never fully cracked the code.”
Now in control of Knott’s, Mr. Ouimet admits it would be nice if Disney executives looked his way and wonder how he does it. “I hope my former colleagues feel a little pressure. I know that they’re paying a little more attention,” he said.
If Disney officials are paying attention they might recognize a similar philosophy, a “kind of emotional sentiment” that Mr. Ouimet plans to emphasize at Cedar Fair.
“We are successful here if I can get you to come with your family and friends and laugh and smile. I’ve created value for you and value for my shareholders,” Mr. Ouimet said. “And whether it be Cedar Point, Knott’s, Kings Island, or Kings Dominion, that’s really our mission.”
Mr. Ouimet is convinced laughs and smiles go best with friends and family. And while Cedar Fair parks have been good at providing thrills, a friend and family connection may have been somewhat overlooked.
In response, it will launch a new marketing campaign, “Thrills Connect,” to show people that they can go to a Cedar Fair park, never get on a coaster, but still have a great day with family.
“We want to remind people that time with family, time with friends is precious. This is the place to spend it,” Mr. Ouimet said.
Over time, Mr. Ouimet said he plans to build more rides that families, from a young child to a grandmother, can enjoy together.
“I think that we’re known for thrill rides. I think we will always be known for thrill rides. But there clearly is an opportunity to expand the offering for children,” Mr. Ouimet said. “So you’ll see us over time try to make sure we’re adding enough for the young families. Because if I can get you to come at that age …you start your relationship with us earlier, you stay with us longer. I’m absolutely convinced of it.”
Several Cedar Fair’s parks have room to add family rides, but Cedar Point, built on a peninsula, has always been land-challenged. But Mr. Ouimet said the problem isn’t huge. There are underutilized areas, and employee dormitories on the grounds could be relocated off the peninsula, he said.
Mr. Ouimet said the most under-used attraction at Cedar Point is its beach — which was the focus of the park when it was founded in 1906.
“You can come here and not even know we have a beach. So one of the things we’re going to encourage people to do is make more use of the beach, because it’s nice,” said Mr. Ouimet, adding that he plans to add cabanas, tents, chairs, and other recreational services this summer to lure more visitors to the Cedar Point beach.
Mr. Ouimet could have started his tenure as CEO slowly, but he seemed determined to hit the ground running when his hiring was announced last June. The company, which had record revenues of $1.028 billion, profits of $72.2 million, and a record attendance of 23.4 million in 2011, had already announced last year a new $1 million attraction, Dinosaurs Alive!, for 2012 at its flagship Cedar Point park. The attraction, which made its debut last year at Kings Island near Cincinnati, is being duplicated at three other parks.
But Mr. Ouimet wanted customers to have more.
He ordered the creation of Luminosity, a mix of lights, lasers, fireworks, music, and dancing that reportedly will cost $6 million and, he hopes, entice people to stay longer in the park. If the show performs as expected, it will be duplicated next year at other parks.
He also asked for and got two new Peanuts characters — Woodstock and Franklin — to delight children at the park’s Camp Snoopy area, and he will have a Snoopy show to fill the Luminosity stage in the daytime.
The former Disney executive also turned his focus on three other items he hopes will make a difference: food, marketing, and ecommerce.
Cedar Point used to be known for its delicious french fries, but the recipe was labor-intensive. So several years ago it abandoned its popular recipe in favor of quicker service.
“[Operations vice president] Phil Bender, who runs about half of our parks for us, is now bringing back the original recipe at all the parks. …It will take us longer, but they should taste really, really good,” Mr. Ouimet said.
“The food in the parks, to some degree, has been an afterthought. So this year we’re going to have in our major burger places all fresh burgers, never frozen,” he said. “So with those, the french fries, and we’ve got some other little surprises that we’re going to do for the food, we’re trying to make that part of it a little better.”
Marketing, in Mr. Ouimet’s view, wasn’t a Cedar Fair strength. So he created a chief marketing officer position and filled it with Kelly Semmelroth, a former Disney colleague.
“I needed someone like Kelly, who can take what I would call modern marketing techniques. She is very much into CRM — customer relationship marketing — which is, ‘How much do I understand my consumers?’ ‘How do I capture their information?’ ‘How do I communicate with them in the digital era?’ ”
If the individual parks gathered that information it would have produced 11 databases, Mr. Ouimet said. But Ms. Semmelroth can centralize data to find economies of scale, yet still allow each park the independence to do what is needed for their markets, he added.
An area where Mr. Ouimet already has made progress is ecommerce. Previously, each park had its own Web site and methods of ticket sales. But late last year the new CEO standardized the Web sites so they can offer discounts on tickets and other premium services.
“From a system technology standpoint, the rides were as technologically advanced as anything you’ll see in the industry. From a back of the house standpoint, we were probably behind the curve,” Mr. Ouimet said of Cedar Fair’s previous technological efforts.
The growth of smart phones and other devices has necessitated new ways to reach customers, he said.
“The way I see it today is, before you grab your car keys to go on a road trip to Cedar Point, you grab your keyboard to see what you’re going to do and what tickets you’re going to buy,” he said. “So clearly, today when somebody sees our commercial on television, I guarantee you the vast majority are going to the Web site, and I needed that Web site to be able to be of value to the consumer.”
In return, Cedar Fair can communicate with its guests in ways it couldn’t before, the CEO added.
“I can now talk to every kid instantly, and I think that’s how you balance out the technology side. I guarantee you we’ll come up with things we haven’t even thought of yet using technology for people to enjoy the parks better, to stay in touch with each other.”
I was in the park on Sunday, July 31st, when John Hildebrandt and Matt Ouimet came onto Millennium Force for a ride during early entry.
From the Sandusky Register…
Cedar Fair said Monday it has found a successor for Dick Kinzel, the longtime Cedar Fair CEO who made Cedar Point the roller coaster capital of the world.
The new leader is Matthew Ouimet, 53, a former executive for the Walt Disney Co. and Starwood Hotels and Resorts.
Ouimet began work Monday in Cedar Fair’s Sandusky office, in the back of the park, as the new president of Cedar Fair. When Kinzel, 70, retires on Jan. 3 as CEO, Ouimet will succeed him.
In an interview, Ouimet (pronounced “We MET”) said he plans to keep the company’s headquarters in Sandusky and will make sure Cedar Point remains the “crown jewel” of Cedar Fair’s family of amusement parks.
“I see no logic to moving out of Sandusky,” said Ouimet, who, along with his wife, will move to Ohio from Orange County, Calif.
Investors will get a look at Cedar Fair’s new leader when the company hosts its annual meeting at 9 a.m. July 7 at the Cedar Point Center at BGSU Firelands.
Ouimet spent 17 years with Disney, including handling the financial management of Disney’s parks and projects in California, Florida and France as the company’s senior vice president; running the Disney Vacation Club, and serving as president of the Disney Cruise Line and Disneyland Resort. More recently, he served as president of Starwood Hotels and Resorts, overseeing 900 properties in 90 countries, and was president and CEO of Corinthian Colleges. Ouimet is also on the board of Collective Brands, which owns the Payless ShoeSource chain.
Disney emphasizes qualities such as service and cleanliness and has a culture similar to Cedar Fair’s, Ouimet said.
“I grew up in a culture that was all about quality,” Ouimet said.
He said his visits to Cedar Fair parks such as Knotts Berry Farm and meetings with Cedar Fair officials showed Cedar Fair has a similar focus.
“It is clear to me this team has extremely high standards,” Ouimet said.
He said he shares Cedar Fair’s philosophy of keeping its parks clean.
“I can’t walk through a park and leave anything on the ground,” he said.
C. Thomas Harvie, Cedar Fair’s chairman of the board, said Ouimet was the right man to lead Cedar Fair into the future.
Harvie cited Ouimet’s track record of finding growth opportunities and his background in resort development, finance, marketing and operations.
The board met other candidates who were well-qualified, Harvie said.
“The board agreed that Matt stood out from the rest due to his strategic business mindset and his natural and engaging leadership style,” Harvie said.
“Matt is an impressive business and operational executive whose character and values will be a great complement to the strong Cedar Fair culture,” Kinzel said.
The Q Investments family of companies, controlled by Texas investment banker Geoffrey Raynor, has warned it might oppose a new Cedar Fair CEO if it didn’t approve of the board’s choice.
On Monday, Q released a statement reserving judgment on Ouimet, but pushing Q’s position that unitholders should be allowed to nominate members of Cedar Fair’s board.
“We have no current comment on the hiring of Mr. Ouimet. However, regardless of whether the company hires Matt Ouimet or Warren Buffett, it does not change the fact that unitholders should have the right to nominate their own directors. We will continue to take every step necessary to ensure unitholders ultimately receive this right, which 95 percent of voting unitholders demanded at the last special meeting,” the Q statement said.
- Ouimet brings deep amusement park and resort industry experience and a rich understanding of financial, operational and brand management to this leadership role
- Ouimet will succeed CEO Dick Kinzel on January 3, 2012, as part of Company’s CEO succession planning process
SANDUSKY, OHIO, June 20, 2011 – Cedar Fair Entertainment Company (NYSE: FUN) today announced that Matthew A. Ouimet has been named president of the Company, effective immediately. Ouimet, 53, will succeed Dick Kinzel, 70, as chief executive officer, who will retire upon the expiration of his contract on January 3, 2012. Today’s action is in line with Cedar Fair’s previously announced CEO succession planning process.
Ouimet is a 20 year veteran of the amusement park and hospitality industry, of which 17 years were spent with the Walt Disney Company (“Disney”). During his tenure with the global entertainment conglomerate, he had the opportunity to work in a wide range of business lines with increasing levels of responsibility. Highlights of his tenure at Disney include serving as:
- Senior vice president, finance and business development, and chief financial officer of the Disney Development Company, in which he was responsible for the financial management of Disney’s resort, theme park and corporate real estate projects in California, Florida and France;
- Executive general manager of Disney Vacation Club, where, through expanded marketing and sales initiatives, Disney established itself as a major competitor in the timeshare industry;
- President of Disney Cruise Line, where his team built the most successful family cruise product in the industry;
- President of the Disneyland Resort, where he and his team developed and implemented a comprehensive strategic plan that resulted in significantly improved and sustained performance for Disneyland’s 50th anniversary and beyond.
In 2006, Ouimet was recruited to serve as the President of Starwood Hotels & Resorts, overseeing 900 owned, managed and franchised hotel properties in 95 countries. In this capacity, in support of brand-driven pricing premiums, he drove an operational focus on delivering a guest experience consistent with the characteristics of each of Starwood’s hotel brands, including St Regis, Westin, Sheraton, W Hotels and five other brands. In 2008, Ouimet joined Corinthian Colleges, a $2 billion, publicly-held, post-secondary education company which operates in the U.S. and Canada. As President and Chief Operating Officer, Ouimet championed executive talent development and the expansion of management and systems infrastructure to support rapid growth in the student population and expanded regulatory complexity.
“Without question, Matt is the right leader to join Cedar Fair now as it builds momentum on its renewed path of sustained, profitable growth in 2011 and beyond,” said C. Thomas (“Tom”) Harvie, independent chairman. “Throughout his career, Matt has proven to be a critical thinker and effective business strategist with an enviable track record for identifying growth opportunities within existing businesses in the amusement park and resort industry. His broad and diverse background in resort development, finance, marketing and operations will allow him to integrate quickly into Cedar Fair.
“While our thorough search process with the assistance of the executive search firm Korn/Ferry International enabled us to meet with and consider many extremely qualified candidates, the Board agreed that Matt stood out from the rest due to his strategic business mindset and his natural and engaging leadership style,” said Harvie.
“Matt is an impressive business and operational executive whose character and values will be a great complement to the strong Cedar Fair culture,” said Dick Kinzel, chief executive officer. “I look forward to working with him over the coming months to ensure a seamless leadership transition.”
Ouimet currently serves on the Board of Collective Brands, Inc., a $3.4 billion global enterprise encompassing the internationally recognized footwear brands of Payless, Sperry Top-Sider, Stride Rite and Saucony, where he serves as a financial expert on the audit and finance committee. He earned a Bachelor of Science degree majoring in accounting from State University of New York at Binghamton.
“I am thrilled to join this successful Cedar Fair leadership team. I am particularly pleased to have the opportunity to work closely with Dick Kinzel and to continue to build on his legacy in years to come,” said Matt Ouimet. “Cedar Fair is a wonderful company – its properties are vibrant and extremely well-run, its reputation is superb, and the record-setting 2010 performance has put us on a path to deliver the positive financial results Cedar Fair has long been known for. I am truly honored to have this opportunity and sincerely thank the Board for entrusting me with this critical leadership role at this pivotal point in Cedar Fair’s evolution.”
“On behalf of the Board, the management team and all of our colleagues past and present, I would like to thank Dick Kinzel for his unparalleled vision, passion and selfless dedication to Cedar Fair over the years,” said Harvie. “Without Dick, Cedar Fair would not have the opportunities or the growth potential it has today. He has been the heart and soul of this organization for many, many years and, while he can be succeeded, he can never be replaced. We wish Dick and his wonderful family all the very best as he moves into his well-deserved retirement at the end of the year.”
Kinzel began his career in the amusement park industry at Cedar Point in 1972. In 1986, he was named president and chief executive officer of Cedar Fair, L.P., the parent company of the parks, which was listed on The New York Stock Exchange (NYSE: FUN) in 1987. Kinzel also served as chairman of the Board from 2003 to 2010.