Ardent Leisure appoints former Bond University student John Osborne as Dreamworld CEO

LISTED theme parks operator Ardent Leisure has appointed a familiar Gold Coast face as the new CEO of Dreamworld as the company’s share price hit a five-year low.

LISTED theme parks operator Ardent Leisure has appointed a new CEO for its theme parks division on the Gold Coast.

Ardent this morning said former Bond University student and experienced CEO John Osborne would take over from acting theme parks CEO Nicole Noye on November 5.

The appointment follows the departure of Craig Davidson, who left the company in July after almost five years in the job.

Shares in Ardent Leisure hit a five-year low today, dipping as low as $1.58 and recovering slightly to $1.595 after opening at $1.60.

In an announcement to the ASX, Mr Osborne said he aimed to “reinvigorate this iconic theme park, restore its reputation and ensure its significant contribution to the Gold Coast economy and broader tourism industry continues into the long-term future.”

“I have a strong affinity with the Gold Coast having previously lived, worked and studied there,” he said.

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John Osborne. Photo: Supplied

“It is an exciting time for the Gold Coast and I am looking forward to relocating and contributing to its future growth.”

Ardent chairman Gary Weiss said he was delighted with the appointment.

“John brings excellent experience in business transformation, strategy execution, government and private sector relations and has strong leadership skills,” he said.

Mr Osborne, who has previously been CEO of the listed Lantern Hotel Group, Accor Vacation Club and Next Generation Clubs, faces the challenging prospect of turning around the fortunes of Ardent Leisure, which posted an eye-watering $88.6 million loss for the past financial year — $26 million higher than last year’s $62.6 million cruelling.

The company’s theme parks division, consisting of Dreamworld, WhiteWater World and SkyPoint, was the major driver of the results, with that division alone recording a loss in earnings of $91.1 million.

Former Dreamworld CEO Craig Davidson (centre) with Ardent chairman Gary Weiss (right) arriving at the coronial inquest.

This Thursday marks two years since the tragedy on Dreamworld’s Thunder River Rapids ride, which killed Luke Dorsett, his sister Kate Goodchild, Roozbeh Araghi and Cindy Low when their raft flipped.

Two children on the raft escaped uninjured.

A coronical inquest into the deaths has heard relatively minor investments in maintenance of the ride and more effective training of staff may have prevented the deaths, which saw an outpouring a grief across Australia.

The second sitting of the inquest ended in Southport this week and will resume in November.

Mr Osborne expressed his sympathy to those affected by the tragedy.

“A key reason for my decision to join the team is the Ardent Board’s very strong focus on the welfare and safety of guests and employees and my priority is to work closely with the team to continue this work,” he said.

“Our goal is to create a global best practice ‘safety first’ culture for all concerned.”