Deborah Thomas departs Ardent Leisure

Ardent Leisure has abruptly cut ties with its Chief Executive, Deborah Thomas, who will now not be taking up a new role of Chief Customer Officer within the troubled group.

The sudden departure, announced in a statement to the Australian Stock Exchange yesterday, concludes Thomas role as Chief Executive that has lasted just over two years, which was marred by the tragic accident in which four visitors at Dreamworld were killed and a loss of investor faith in the company’s direction.

Just over two months ago, Ardent Leisure Chairman George Venardos announced that Thomas would step down as the group’s Chief Executive and be replaced by former Nine executive Simon Kelly.

The change would have seen Thomas move to a newly created role as Chief Customer Officer on 1st July.

However, that will no longer the case, with Thomas to walk away with a termination benefit of $731,291 while forfeiting entitlements under Ardent’s deferred short-term incentive plan that do not vest by the start of July.

The former Australian Women’s Weekly Editor will also step down from Ardent’s board, which she joined in late 2013.

As of 1st July, Thomas’s only formal role with the company will be as a consultant which will see her paid a daily rate of $3,000.

This is believed to cover Thomas expected role will support incoming Chief Executive Simon Kelly in dealing with the pending Queensland Coroner’s inquiry into last year’s accident.

Her unanticipated departure comes at time of growing move comes amid shareholders dissatisfaction and doubts about the lack of relevant experience on the board.

Thomas’ role as Chief Executive has repeatedly been questioned since she moved from being an Ardent board member to replace well-regarded Chief Executive Greg Shaw in early 2015.

Ardent Leisure says visitor numbers and revenue at its theme parks picked up last month but both are still down by more than a third on the same time last year.

The company says that while they were stronger than in March and April, there were 35.8% fewer visitors and 35.4% less revenue than in May 2016.

2nd June 2017 - DREAMWORLD ANNOUNCES WINTER PROMOTIONS AND RECONCILIATION ACTIVITIES

24th May 2017 - ARDENT LOOKS TO QUASH DREAMWORLD SALE RUMOURS, EXPLORES SITE REZONING PLAN

9th May 2017 - DREAMWORLD SUFFERS FURTHER ATTENDANCE AND REVENUE SLUMP 

27th April 2017 - DEBORAH THOMAS TO STEP ASIDE AS ARDENT LEISURE CHIEF EXECUTIVE

16th April 2017 - CONSULTING ENGINEER REBUTS AUSTRALIAN WOMEN’S WEEKLY RIDE SAFETY ‘INVESTIGATION’ 

14th March 2017 - VILLAGE ROADSHOW THEME PARKS HIGHLIGHTS SAFETY AND MAINTENANCE SYSTEMS 

13th March 2017 - PARKZ WEBSITE LAUNCHES SUPPORT OUR THEME PARKS CAMPAIGN 

23rd February 2017 - DREAMWORLD CLOSURE DRAGS ARDENT LEISURE TO $49 MILLION HALF YEAR LOSS 

12th March 2015 - SHARE VOLATILITY AFTER ARDENT LEISURE ANNOUNCES NEW CHIEF EXECUTIVE