Cedar Fair has announced plans for the company’s existing president and COO, Richard Zimmerman, to succeed Matt Ouimet as CEO.

Worked for more than three decades in the hospitality and leisure industry, Zimmerman joined Cedar Fair as executive vice president in 2007, going on to be named COO in 2011 and then president in 2016.

He takes up his new position as CEO effective 1 January 2018, with Ouimet taking the newly created role of executive chair of the board of directors. Additionally, Debra Smithart-Oglesby will be named lead independent director.

According to a company statement, the changes are designed to “ensure continuity in leadership” as Cedar Fair develops new attractions to draw more visitors and pursues further investment into broadening its entertainment offering.

"I have very much appreciated the opportunity to serve as the CEO of Cedar Fair and I am proud of what our team has accomplished," said Ouimet.

"The market value of Cedar Fair has increased by more than US$2.6bn (€2.21bn, £1.95bn) during my time at the company. This performance provides us with a solid foundation to build upon and a positive outlook for the future.

“Richard is a perfect choice to succeed me as CEO and I look forward to continuing to partner with him as the executive chairman going forward."