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Todd Coates (CEO) Resigns Ardent Leisure

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In the news today. THEME park operator Ardent Leisure has appointed a former Tourism Australia executive to head up its theme park division. Craig Davidson previously was general manager of Destination Development at Tourism Australia. He was responsible for the operation of the Voyages Hotels and Resorts portfolio and Hamilton Island. Mr Davidson replaces Todd Coates as chief executive of Ardent's theme parks division. Ardent said Mr Coates had resigned to pursue other opportunities in Sydney. Mr Davidson will start his new role in late August. The new appointment follows a difficult period for Ardent's theme park division, which includes Dreamworld, the Skypoint Climb and White Water World. While its Goodlife Health Clubs and entertainment centres in the US are booming, revenue and attendance figures have been down at its theme parks. Ardent earlier this year blamed wet weather, increased licensing fees and higher electricity costs for the flatter performance at its parks. Ardent chief executive Greg Shaw said the company was planning to unveil new attractions at its Gold Coast parks. However he said Ardent had concentrated on diversifying its market and had "significantly reduced" its reliance on the theme parks' business. BYE BYE Todd Coates.

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Now can they start moving in the right direction? Please let this new guy come up with a plan to actually spend money on doing the park up.

Also does anyone know yet what this "New Attraction" actually is?

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This should be moved into a new thread. Can't believe Todd Coates is leaving already. He was in there for such a short time. He actually had theme park experience and we were all hopeful this meant good things for the park. What does this resignation tell you about Dreamworld's situation! My guess is he was frustrated by the Ardent board of directors' lack of true theme park vision and understanding.

Edited by GoGoBoy

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I think you are onto something there Gogoboy. As much as we all hope that the parks problems will be fixed with this CEO change, it isn't likely to happen. The parks problems are more likely stemming from above the CEO. I agree though, this needs to be split into a new topic. And RCW, New attraction will most likely be AVPX replacement and whatever stems from the AWE construction.

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ARDENT LEISURE GROUP MANAGEMENT CHANGE

Ardent Leisure Group (ASX: AAD) today announces that Craig Davidson has been appointed as the new Chief Executive Officer of the Theme Parks division to replace Todd Coates, who has tendered his resignation in order to pursue other opportunities in Sydney.

Most recently Craig was Executive General Manager Destination Development at Tourism Australia and brings significant experience to the role having been responsible for the operations of the Voyages Hotels and Resorts portfolio and Hamilton Island in Queensland. Mr Davidson will commence in the role in late August.

Todd Coates will continue in the role until 29 July. Todd has successfully managed the launch of a number of significant attractions and we thank him for his strong contribution to the Group and wish him success in the future.

Link: http://clients.weblink.com.au/clients/ardentleisure/article.asp?view=2741338

Edit: Thought I would make a new Topic/Post.

Edited by Randy23

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Craig is from the hotels and resorts so it's pretty different to theme parks etc. But only has knowledge of tourism industry. Just weird that Todd didn't last long. Something must of happen for him to resign. Excuse was moving to sydney for other opportunities.

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Wow another new man at the top for Dreamworld. It's as I keep saying... no long term strategic vision from management because there is no long term management.

All I heard was good things about Todd Coates so I'm guessing he jumped from a ship thats fast overfilling it's watertight compartments.

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Don't worry about moving the posts Gazza, I got this :rolleyes:

I think Djrappa's observation is about the most interesting one that can be made; The fact they change CEOs every 2 years means there is no apparent strategic vision.

In contrast, Village Roadshow Theme Parks have had 3 CEO's in 55 years. They'll be opening their 9th park shortly.

Edited by joz

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Don't worry about moving the posts Gazza, I got this :rolleyes: I think Djrappa's observation is about the most interesting one that can be made; The fact they change CEOs every 2 years means there is no apparent strategic vision. In contrast, Village Roadshow Theme Parks have had 3 CEO's in 55 years. They'll be opening their 9th park shortly.

My bad, for some reason I thought the posts had been moved across already.

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