After the market closed Wednesday, SeaWorld Entertainment disclosed its chief financial officer is stepping down this year, and the company plans to buy back $250 million shares of stock.
The Orlando-headquartered company revealed the updates in a pair of news releases and an SEC filing.
The news release said the company’s Board of Directors approved the stock buyback program.
“Under the Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws,” the news release said. “The Share Repurchase Program has no time limit and may be suspended or discontinued completely at any time.”
Elizabeth Castro Gulacsy, who helped steer SeaWorld through the pandemic, plans to step down on Dec. 31 or earlier if the company finds her replacement, the company said in a news release.
“With SeaWorld in a strong financial position, incredible momentum, and an extremely bright future, the time is right for me to move on to the next chapter in my career,” Gulacsy said.
Gulacsy had worked for the company for nine years, but she rose in the ranks during the historic economic crisis for the theme parks. She was named interim chief