Dreamworld signals tough conditions as CEO resigns

DREAMWORLD boss John Osborne has resigned as head of Ardent Leisure’s theme parks division, effective immediately.

In a statement to the ASX Wednesday morning, Ardent said chief operating officer Greg Yong would step into the $550,000-a-year role.

The statement said Mr Osborne had agreed to consult to the company “on several projects considered to be of strategic importance for Ardent”.

Long-time Gold Coaster Mr Yong has held the role of chief operating officer of Ardent Leisure Theme Parks and Attractions (COO) since May 2019.

Ardent chairman Gary Weiss said Mr Osborne was leaving for personal reasons.

“Since John’s appointment as chief executive officer of our Theme Parks and Attractions division in November 2018, he has overseen not only the resolution of the many legacy issues facing the business but also skilfully and expertly led the business through the significant challenges arising from the COVID-19 pandemic,” Dr Weiss said.

“We are delighted that Greg has accepted the offer to become chief executive.

“Greg has substantial experience in the theme parks industry in Australia and overseas and has played a critical role, as a key member of the leadership team, in restoring the performance of Dreamworld and SkyPoint.”

Mr Osborne said his tenure had been “challenging and transformational”.

“I believe it is an optimal time for me to hand the reins over to Greg so I can spend more time with my family,” he said. Meanwhile, the departure of Mr Osborne follows a separate update by the company that revealed the recent Greater Brisbane snap lockdown had hindered its trading performance over the Easter holiday period.

Ardent Leisure noted conditions for the theme park, would remain challenging until at least the second half of the next financial year (FY22).