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Reid-Anderson to take helm at Six Flags
James Reid-Anderson, who turned around the fortunes of medical supplies giant Dade Behring Holdings, has been named the new chair, president and CEO of theme park operator Six Flags.
Anderson-Reid replaces interim CEO Al Weber, who has guided the troubled Six Flags group since it emerged from Chapter 11 bankruptcy in May this year.
Mark Shapiro, who was CEO when the company went into bankruptcy, left the company earlier this year.
Reid-Anderson faces a tough challenge in rejuvenating Six Flags, which operates 19 regional parks across the United States, Mexico and Canada.
He has, however, the right credentials. Dade Behring emerged from Chapter 11 in September 2002 and under Reid-Anderson's guidance, re-established itself as a leader in its field.
In 2007, Dade Behring was sold to German engineering giant Siemens AG. Following the deal Reid-Anderson was promoted CEO of the Siemens Healthcare Sector and eventually appointed a member of the Siemens managing board.
Usman Nabi, executive chair of Six Flags, said Reid-Anderson would be an important part in the future of Six Flags. Nabi is also a senior partner in H Partners, which invested in Dade Behring prior to the Siemens deal.
"Reid-Anderson is an exceptional CEO and he brings to Six Flags an outstanding track record of shareholder value creation," Nabi said.
"As past investors in Dade Behring, we understand the value Jim delivers to shareholders, and the Board is confident that he will repeat this success at Six Flags."
"I'd like to acknowledge the tremendous work of Al Weber, who has served as Interim CEO over the last three months. Under Al's leadership, we've streamlined our operations and re-focused our organization on our core theme park business. Al's deep industry experience will complement Jim's capabilities."
Nabi will continue to serve as as director and a member of the executive committee while Weber will transition to the role of chief operating officer.
Commenting on his appointment, Reid-Anderson said: "With its strong portfolio of theme parks and improved capital structure, the company is very well positioned for the long term. I look forward to enhancing the experience for our guests and continuing to build value for our stakeholders."
Born in Baghdad in 1959, Reid-Anderson received an honours degree from University of Birmingham in the UK and his previous roles include various financial and operational positions at Wilson Sporting Goods, PepsiCo, and Grand Metropolitan. He is a fellow of the UK Association of Chartered Accountants
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