Linus1995

Noel Dempsey Dreamworld CEO Resigns

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So not much different to what the title says, the word going around is that Noel Dempsey has resigned today from his post effective 31st of July. I assume Dreamworld will be releasing a statement in accordance with this news sometime this week? I'm confused.... :S Edit: Can't figure out how to edit the title, but yes I can see my spelling error!!! If one of the mods could change it that would be nice :)

Edited by Gazza

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From the ASX release under the Ardent Leisure listing "Noel Dempsey, has tendered his resignation in order to pursue new interests." Interesting move. Big question is who will they choose to replace him and what direction they take with the properties.

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Yet he was one of the greater CEO's the park had... The whole park in general is looking better than it has in YEARS when he was in charge... and just in general. Will be very interesting to see what happens...

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Dreamworld needs a ceo that is willing to stay around for a while. The new ceo is going to come in and to keep his bosses happy will cut spending.

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Dreamworld CEO calls it quits Lucy Ardern | July 7th, 2011 FEW top-flight executives are able to blow off steam with a regular ride on a thrilling theme park attraction. Ardent Leisure Group chief executive officer Noel Dempsey admits he will miss taking on the Tower of Terror after calling time on his three years as the chief executive officer of the Ardent Leisure Group. It was announced yesterday that Mr Dempsey had resigned from his role with the group, which owns Dreamworld, WhiteWater World and Skypoint, and would finish at the end of the month. For more local business news, see today's Gold Coast Bulletin More Gold Coast business news Have your say on the feedback form below "Tell me which other CEO gets to ride on the Tower of Terror regularly," said the 47-year-old. "Most people have to drink coffee to get their kicks." Just minutes before speaking to the Bulletin, Mr Dempsey had a visit from one of Dreamworld's famous tigers in his office. "It is hard to turn your back on this business," he said. "The brand is fantastic and this is a great operational role." Mr Dempsey has been able to end his time with the company on another high after the theme park division recorded an increase in revenue of almost $83 million for the nine months ending in March. The company's bottom line was boosted by more than $28 million in the same period. "We are taking a good share of what is coming into the Gold Coast," Mr Dempsey said. New rides will also soon be announced for the parks and Mr Dempsey said "a major entertainment partnership" between Ardent Leisure and another group would be revealed this year. Tight-lipped about his next job, Mr Dempsey said he was aiming to head up a company of a "greater scale and size". "I intended to do this job for two years, yet I have been here almost three," he said.

http://www.goldcoast.com.au/article/2011/07/07/330581_gold-coast-business.html Interesting!

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Poor journalism... the article says he is the Chief Executive Officer of Ardent Leisure Group. I'm sure Greg Shaw would have something to say about that! He is only the CEO of Dreamworld and WhiteWater World... not the whole group! I think it's worth pointing out that the CEO of DW/WWW probably doesn't have a huge say when it comes to strategic direction for the parks and what new rides they will get in. I'm pretty sure that mostly comes down to the CEO of Ardent and the Board of Directors. My guess is that the park CEO role is more operationally focused, as Noel referred to in the article above. Could be wrong though

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Yeah the Tenure of these guys is really low.

"I intended to do this job for two years, yet I have been here almost three," he said.

Long term strategic vision ???

but doubt he'd mention they are getting them unless true

Whats' your point? We already know we're getting new attractions, and one of them is well into construction now. Edited by Gazza

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^ I think the point he was making is we definitely know about the Maurer coaster for September. Prior to this article, any information about the "Summer Surprise" or attractions to open after the September coaster was just purely speculation. The article uses plural for the words "rides" and "parks" so I wonder what we'll see for WhiteWater World.

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He may not get much say in it what rides the park gets, but doubt he'd mention they are getting them unless true

??? I wasn't suggesting he wouldn't know about new rides or would 'lie' about them - just that he probably doesn't make the decisions about which new rides to get. I would assume that would be above him. The "major entertainment partnership" certainly sounds like it might be what a lot of people on here have been guessing - the new brand to replace nickelodeon etc. (ie. the summer surprise)

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I'd think general manager of special projects (Bob Tan) would 'suggest' rides to the BOD of Ardent then they'd work off of them? So maybe like 2 or 3 within the budget they give him?

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What I meant was he seems to be inferring more than just the sept attraction by using plural, and also mention parks as opposed to park. Sorry if I didn't get my pt across properly, some of u guys are quick to jump!

No worries, we were just trying to work out what you meant as the statement was a bit strangely worded. My guess would be that he is just referring to the rides we already know about. Would be very surprised if we see anything else this year. The entertainment partnership will be the new thing Edited by GoGoBoy

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The article uses plural for the words "rides" and "parks" so I wonder what we'll see for WhiteWater World.

Doesn't it also mention him as CEO of Ardent Leisure? Given the fact nothing has been mentioned about a new attraction for White Water World it would be quite the surprise.

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Having his achievements listed on Linked-in implies to me that he had a very hands on involvement in capital management and the general direction of the park. Looking through some of what's in Noel Dempsey's linked-in profile does make for pretty depressing reading: (Taken from Spotty's post):

"Attraction investment of over $17m across 3 years ( Shockwave , SpongeBob Kit Flyer, Alien vs Predator, Buzzsaw thrill ride (opening Sept 2011) , Exotic species display , all weather 400pax stadium , 3D digital cinema , Wedgie water ride"

When you add to that "Sitting idle when Village started discounting and over seeing a huge decline in both attendance and profits" you'd have to say it really doesn't paint a pretty picture of his tenure. The funny thing is, he is one of the better CEOs the park has had in recent history. The park didn't seem to rely on adding new up-charges during his tenure, and he had no part in the installation of MDMC. Shockwave seems like a good fit for the park, and is the first attraction since Claw to have an original theme/name. He was also at the helm for the introduction of Illuminate and ToT2, both of which were positive steps for the park. Hopefully the next CEO is one with "long term strategic vision". There's plenty at the park which needs work. There's the huge rusting mess that is Blue Lagoon, Eureka Mountain, and the many bits of the Skylink which still stand. There's also the WWW expansion, implementation of Dream-works to the park to get on top of, as well as deciding what to do with "The Lair" and Cinema, and dealing with what ever Village are doing, and that's just for starters. The next bloke has his work cut out for him. Steve Peet anyone? Edited by joz

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The problem is all these drop in CEO types using the park as a stepping stone in their career. For a long time the CEO at WVTP was the guy who built the park, was a lifer and had a vested interest. He is still there as Chairman. Now WVTP have a new CEO and General Manager who both have a long history in the theme park business. This is the business they know and care about an it shows. Dreamworld desperately needs someone who's in it for the long haul.

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John Longhurst rang, he said he wants his park back.... Joz hit the nail on the head though, Noel was good, and the park is looking it's best it has in quite some time, now hopefully the replacement is able to continue fixing the broken, and not do a Stephen Gregg's and break what's not broken, and milk the parks assets dry. Only time will tell.

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Dreamworld are now advertising for a new manager for engineering and projects (Bob Tan's former position). Could Mr. Tan be the new CEO? Just a random stab in the dark based on this job opening, and given the fact that he has been there for quite a little while now?

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If Bob Tan becomes the CEO of Dreamworld / WhiteWater World, I will say that the park will be in very good hands. That man really does know what he's doing as far as rides and development go and I'm sure that he will do great things. We can only hope I guess...

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http://www.goldcoast.com.au/article/2011/08/19/342371_gold-coast-business.html

New CEO for Ardent's Coast theme parks | August 19th, 2011 THE former CEO of Bridgeclimb Sydney is set to take over as the boss of Dreamworld, White Water World and SkyPoint. Ardent Leisure, which owns the three Gold Coast attractions, has announced Todd Coates will start in October 2011. Ardent Leisure CEO Greg Shaw said the company was ''excited'' to have Mr Coates join the theme park division. ''Bridgeclimb is an iconic attraction,'' he said yesterday. ''We feel it will be a real strength to our business to have Todd onboard.'' Noel Dempsey announced in early July he would be leaving as head of the theme park division. Ardent this week released the profit results for the Gold Coast theme parks and SkyPoint which was up by 3 per cent for the 2011 financial year.

A quick look at Todd's employment history on LinkedIN shows that he was Chief Executive Officer Australia's Wonderland & The Australian Wildlife Park for 7 years (91-98) I think this sounds like a good move for Ardent.

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I think this will be GREAT for the park! From what I hear Todd is a great guy and his last two jobs have been long term, which is what that place needs.

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