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Six Flags Ends General Counsel Job as Legal Chief Departs (1)

Dec. 3, 2021, 6:24 PMUpdated: Dec. 3, 2021, 9:30 PM

Six Flags Entertainment Corp. will eliminate its general counsel position and part ways with Laura Doerre, its legal chief of less than two years.

Doerre joined Six Flags, based outside Dallas, Texas, in March 2020 as executive vice president, general counsel, and chief administrative officer. She’ll depart Dec. 12 after a transition, according to a securities filing.

“We are evaluating the structure of our legal organization going forward,” Six Flags spokesperson Sandra Daniels wrote in a statement to Bloomberg Law. Doerre did not immediately respond to requests for comment.

Doerre’s departure and the elimination of the general counsel role come less than a month after Six Flags replaced its CEO Michael Spanos with Selim Bassoul. Spanos, like Doerre, had been in his role for around two years.

Spanos’ tenure saw extended closures during the Covid-19 pandemic, though Six Flags reported attendance across its 27 parks in North America was nearing 2019 levels as of the third quarter of 2021.

“The purpose of our strategic reorganization is not to cut costs but to create a streamlined organization with fewer layers,” Daniels said in her statement. “Changes are being made to create an agile culture, expedite faster decision-making, and enable empowerment across every position in the organization.”

As general counsel, Doerre received $540,000 in base salary as well as a $75,000 signing bonus and $600,000 in restricted stock units, according to her employment agreement.

She’ll receive her full annual bonus despite leaving before the end of the month, the securities filing said. The company will also reimburse Doerre with up to $10,000 worth of executive recruitment and placement services, and she will be allowed to keep her company phone.

Before joining Six Flags, Doerre was general counsel and chief compliance officer at building products manufacturer JELD-WEN Holding Inc. She has also worked for Nabors Industries and law firm Mayor, Day, Caldwell & Keeton.

Six Flags’ previous legal chief Lance Balk left the company in February 2020 after a decade as general counsel. In 2018, Balk received $1.3 million in total compensation, according to a Six Flags proxy statement.

(Adds company comment in third and sixth paragraphs. )

To contact the reporter on this story: Ruiqi Chen in Washington, D.C. at rchen@bloombergindustry.com

To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com;
John Hughes in Washington at jhughes@bloombergindustry.com

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