A statement released by the company says that David D'Alessandro, the company's chairman, will step in as CEO until another candidate is chosen. SeaWorld detailed a restructuring program across its entire 11-park enterprise:
This effort will centralize some operations, reduce duplication of functions and increase efficiencies and accelerate execution. The restructuring will result in the loss of some positions, and the Company will offer severance benefits to those impacted.
"In order to achieve the goals of our business realignment, we regret that some positions will necessarily be eliminated," Atchison said in a statement. "However, our cost savings effort is part of a broader program to position us for long term growth."
The move comes amid a time of financial crisis for the company. On Wednesday, the SeaWorld's stock hit a new all-time low, dropping below $16 per share for the first time since its April 2013 initial public offering. Its market CAP has fallen by over $1 billion, and its stock has dropped over 50 percent since that time.