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SeaWorld CEO Jim Atchison Is OUT

Myles UdlandDec 12, 2014, 02:45 IST

SeaWorld just announced that its CEO Jim Atchison is out, effective January 15.

Atchison will take a role as vice chairman of the board, serve as a consultant to the company, and will be chairman of the SeaWorld & Busch Gardens Conservations Fund.

Atchison will be replaced on an interim basis by David D'Alessandro, the company's chairman.

SeaWorld also announced that it will initiate a restructuring program across its company, which it says will "result in the loss of some positions." The company did not provide specifics on how many jobs would be cut.

The company also announced that Ellen Tauscher, who previously served as a Member of Congress and as an under secretary of the U.S. Department of State, and William Gray, the former co-CEO of Ogilvy North America of Ogilvy & Mather will join SeaWorld's board.

Atchison has served as CEO of the company since it went public back in April 2013.

Since its debut, the stock is down more than 50%.

Here's the full statement from SeaWorld.