SeaWorld CEO sleeping with the fishes

Written By Unknown on Jumat, 12 Desember 2014 | 10.46

Struggling SeaWorld is trying to stem the tide by changing CEOs.

The theme-park operator said Thursday that Jim Atchison will step down and named Chairman David D'Alessandro as interim leader while it searches for a permanent replacement.

Shares of SeaWorld, which is controlled by private-equity giant Blackstone, have plunged 45 percent in the last 12 months as it battles sinking attendance and backlash from a negative documentary about its captive killer whales.

SeaWorld rose 2.9 percent to $16.09 on Thursday on news of the CEO switch.

But the pressure is only increasing. Animal-rights group PETA, which has been a fierce critic, bought shares of the company so that it could submit a shareholder resolution calling for the company to release captive orcas at its 11 parks, The Post has learned.

The group claims that the negative publicity — fueled in part by the "Blackfish" documentary that aired on CNN — has hurt attendance, profits and the stock price; led marketers to abandon the company; and sparked investor lawsuits.

The group plans to submit the proposal in time for the June annual meeting, The Post has learned.

If approved, the resolution would push "the board to take steps toward developing and retiring the animals to coastal sanctuaries."

When it comes to PETA, D'Alessandro will likely take "a greater combative approach," said Dennis Speigel, president of International Theme Park Services, a consulting firm.

Atchison "left a very solid physical product in place," Speigel said, but "PETA and Blackfish were his Waterloo."


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