NEW YORK--(BUSINESS WIRE)--Jan. 12, 2006--Six Flags, Inc. (NYSE:
PKS) announced today that its board of directors has unanimously
elected Charles Elliot (C.E.) Andrews, Mark Jennings and David Pauken
to the board. Following the appointment of the new directors, Paul
Biddleman, Michael Gellert and Francois Letaconnoux resigned from the
board of directors.
"We thank Messrs. Biddleman, Gellert and Letaconnoux for their
long-time commitment and service on the board of directors," said Mark
Shapiro, Chief Executive Officer. "Their dedication is greatly
appreciated by all at Six Flags. We wish them well in all of their
future endeavors."
Mr. Andrews is the Executive Vice President at SLM Corporation
(Sallie Mae), with responsibilities for Finance, Accounting and Risk
Management. He is also the Chairman of the Board of the Sallie Mae
Bank, a Sallie Mae wholly owned industrial bank located in Utah. Prior
to joining Sallie Mae, Mr. Andrews was a partner at Arthur Andersen.
Mr. Jennings is the Managing Partner and co-founder of Generation
Partners, a $325 million private investment firm that acquires and
provides growth capital to companies primarily in the business &
information services, healthcare and media & entertainment sectors.
Through Generation and predecessor firms, he has invested in more than
50 companies and has served on the Board of Directors of 21 companies,
including Johnny Rockets, a leading All-American style restaurant and
entertainment company and Scientific Games, a world leader in the
lottery industry.
Mr. Pauken is the Chief Operating Officer of the Washington
Redskins. In addition to managing all non-football aspects of the
organization, he played an integral role in creating the
organization's capital structure and managing its financial
relationships. Prior to joining the Washington Redskins, Mr. Pauken
served as Chief Accounting Officer for Snyder Communications from
1996-2000. From 1984 to 1996, Mr. Pauken was an auditor with Arthur
Andersen.
Six Flags, Inc. is the world's largest regional theme park
company.
Forward Looking Statements:
The information contained in this news release, other than
historical information, consists of forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act. These statements may involve risks and
uncertainties that could cause actual results to differ materially
from those described in such statements. These risks and uncertainties
include, among others, the costs of reviewing and responding to the
unsolicited offer and consent solicitation, and other impacts of the
proposed offer on Six Flags' operations. Although Six Flags believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to have been correct. Important factors, including factors impacting
attendance, such as local conditions, events, disturbances and
terrorist activities, risks of accidents occurring at Six Flags'
parks, adverse weather conditions, general economic conditions
(including consumer spending patterns), competition, pending,
threatened or future legal proceedings and other factors could cause
actual results to differ materially from Six Flags' expectations.
Reference is made to a more complete discussion of forward-looking
statements and applicable risks contained under the captions
"Cautionary Note Regarding Forward-Looking Statements" and "Business -
Risk Factors" in Six Flags' Annual Report on Form 10-K for the year
ended December 31, 2004, which is available free of charge on Six
Flags' website at www.sixflags.com
SOURCE: Six Flags, Inc.
