Six Flags appoints H Partners founder to board

Six Flags Entertainment Corporation (NYSE: FUN) entered into a cooperation agreement with H Partners Management on May 19, 2026, according to the company's announcement.

Under the agreement, Rehan Jaffer, founder and managing member of H Partners, will join the company's board of directors following the May 26, 2026 annual stockholder meeting. Jaffer will replace Arik Ruchim, who will step down from the board after the meeting.

H Partners has maintained an investment in Six Flags for more than 15 years and has held board representation during this period. Ruchim served as a director since 2020.

Jaffer will be appointed as a Class III director with a term expiring at the 2027 annual meeting and will serve on the Audit and Finance Committee. The appointment is contingent on H Partners maintaining beneficial ownership of at least 3% of the company's outstanding common stock.

The cooperation agreement includes provisions requiring H Partners to vote its shares in accordance with board recommendations on director elections and other stockholder proposals, with certain exceptions for proposals where Institutional Shareholder Services or Glass Lewis recommend alternative positions.

H Partners retains discretionary voting rights on extraordinary transaction proposals. The agreement also contains standard standstill restrictions and non-disparagement provisions between the parties.

Jaffer provided an irrevocable resignation letter that would become effective if H Partners' ownership falls below the 3% threshold or if the firm materially breaches its obligations under the agreement.

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