It is good, clean fun to have a day to be right for reasons that didn’t seem to matter the day before.

With a nice theatrical touch at the 13D Monitor conference in NY yesterday, Jana Partners announced this:

JANA PARTNERS, TRAVIS KELCE, AND LEADING EXECUTIVES INVEST IN SIX FLAGS ENTERTAINMENT

As we noted a few weeks ago, Six Flags as an effectively run corporate entity was “vomit inducing.” Ok, I just stole that from the Jana partner. Since that Letter, there have been subtle but obvious movements as reflected by Board member changes as senior members of each side – legacy Cedar Fair and Six Flags – announced plans to leave and one of larger shareholders – Sachem Head – put their own candidate on the Board, making two from the shareholder world.

Adding Jana to the list with their two conceptual Board proposals beats a sharp stick in the eye as ANYTHING that gets this board focused on running the company for the long run vs blaming each other for the colossal mess of a merger is a good thing.

But the most important role of a Board after securing Taylor Swift tickets for the next meeting is to choose a CEO. And vet his operating plan. And then tie his compensation to it. The history of corporate boards can often be viewed as a long history of perfectly qualified adults sitting in a room with no skin in the game and disintegrating into non-committal personality skirmishes. One wonders how many cooks are required in this kitchen to make the real next decision.

Six Flags needs leadership STAT as the ability to influence decision-making for the 2026 season wanes with each day. And annoyingly, near-term is not inconsequential here, given their leverage.(Which continues to trade near par if you are wondering.) There is an existing Board member, Felipe Dutra, who is willing to serve and has obvious chops.

That is the important decision to be made here that is materially relevant to the stock for the longer run. We implore the current Board to huddle up and make this decision.

Go Chiefs.