United Parks is trying to rebuild attendance and profitability through new attractions, events, marketing, and tighter operating costs after a difficult 2025; its first-half 2026 results still showed lower attendance, revenue, and adjusted EBITDA, although per-capita spending improved.
The company is adding an operating layer, not changing CEOs. The board appointed longtime parks executive Kyle Miller as president while Marc Swanson remains CEO. 〔0〕 Miller has led parks operations since January 2023 and has held operating roles at the company since 1995. 〔1〕 That background fits a business whose immediate challenge is executing better at the park level, but the filing gives the president no clearly defined independent mandate: his powers can be assigned or delegated by the CEO or board.
The bylaw change formalizes a dual-leadership structure. The prior rules required the CEO to also be president; the amendment now permits separate holders of the two jobs. 〔2〕 This is a meaningful governance and execution adjustment, but not a disclosed strategic pivot or change in control. Miller’s target compensation is $400,000 of salary, 150% target bonus, and 300% target long-term incentive, plus $2.5 million of one-time equity awards.
| Appointment terms | Amount |
|---|---|
| Annual base salary | $400,000 |
| Target annual bonus | 150% of salary |
| Target long-term incentive | 300% of salary |
| One-time stock option grant | $1.0 million |
| One-time restricted stock grant | $0.5 million |
| One-time performance stock grant | $1.0 million |
The commercial leadership exit is the offsetting complication. Christopher Finazzo is leaving as chief commercial officer on September 25, only days after the president appointment. 〔3〕 That creates a near-term gap in the function responsible for marketing, pricing, partnerships, and demand generation—the areas United Parks is relying on to turn higher guest spending into better attendance and earnings. The filing does not name a successor or explain the reason for the resignation, so the operational benefit of Miller’s promotion is partly counterbalanced by uncertainty on the commercial side.
Bottom line: This is a real management-structure change, not a routine title update: United Parks is strengthening direct operating accountability while losing its commercial chief. It modestly clarifies execution ownership but leaves an important demand-generation vacancy unresolved.
Read the original 8-K on SEC EDGAR ↗