Holiday World names new President/CEO
Santa Claus – The Board of Directors for Holiday World & Splashin’ Safari named Matt Eckert the park’s new president and CEO.
[quote]“My brother-in-law Dan stepped in to serve as president following Will’s sudden death in 2010. We thank him for his leadership and wish him well as he returns full-time to his law firm in Florida.” Holiday World and Splashin’ Safari vice president Lori Koch [/quote]
“Matt was hand-picked by my late husband, Will, to be in a leadership role at the park; I know he would be pleased with our choice,” says park vice president Lori Koch. “As president and CEO, Matt will work closely with our board to keep our family’s park flourishing.”
Eckert began his tenure as the park’s controller in 2000. He also served as one of the park’s two general managers from 2007 to 2012.
He is an International Association of Amusement Parks & Attractions Certified Attractions Executive and has served on its Human Resources Committee.
Eckert is certified public accountant and a graduate of Indiana State University with a bachelor’s degree in accounting and insurance.
“My brother-in-law Dan stepped in to serve as president following Will’s sudden death in 2010,” says Lori Koch. “We thank him for his leadership and wish him well as he returns full-time to his law firm in Florida.”
summary of what has happened:
Lori Koch was Will Koch’s wife.
In 2002 Will, Natalie and Dan (all siblings) each owned an equal share of Holiday World. An agreement in 2002 stipulated that in the event if any of the 3 died then the shares would be sold back to the holding company.
Shortly before Will Koch’s death Natalie sells her shares to Dan and Will. After Will Koch dies the koch’s only offer $26.5 million to the estate of Will Koch (which is basically Lori). Lori says it should be worth $32 million. At this point the lawsuits are now going full speed. Meanwhile Dan is appointed as CEO.
Then in December 2012 the court rules in favor of Lori, saying the Koch’s offer of 26.5 million did not reflect the value of Holiday World, thus making the 2002 agreement between the siblings (Will, Natalie and Dan) to keep the park in the family invalid. Lori is awarded the majority shares (remember she had Will’s shares along with what Natalie sold to Will and Dan) and is therefore the majority owner of Holiday World. She fires Dan and brings in Matt Eckert to be the new CEO.
If the Koch’s would have offered Lori 5.5 million more (32 million – 26.5 million) then the park would still be in the koch family. The Kochs are counterclaiming so I don’t know what will come out of that.