Jim Atchison: SeaWorld CEO Steps Down, Company Plans Layoffs As ‘Blackfish’ Fallout Continues

Jim Atchison has stepped down as CEO of SeaWorld after the documentary Blackfish led to a sharp drop in revenue and attendance for the once-popular theme park.

The company announced that Atchison will be shifting over to the company’s board of directors and will be replaced by current chairman David D’Alessandro. The move comes as SeaWorld is undertaking a cost-cutting initiative in order to stem the loss of revenue.

Part of that plan includes layoffs, SeaWorld announced.

“The Company continues to advance its previously announced company-wide cost initiative, including its plan to deliver approximately $50 million of annual cost savings by the end of 2015,” SeaWorld announced in a statement. “As part of that plan, the Company also announced today 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 2013 documentary Blackfish criticized SeaWorld for its treatment of killer whales, leading to a number of performers to cancel and others to back out. The fallout from the documentary also caused Wall Street to pump the brakes on the company, predicting a revenue loss for 2014 where it once had projected an increase.

In an earnings report, SeaWorld noted that attendance at its San Diego park was hurt by Blackfish, as well as California state legislation proposing that the park no longer be able to hold killer whales in captivity.

The International Business Timesreported that SeaWorld could take note of the response McDonalds took to another embarrassing and damaging documentary. After the 2004 movie Super Size Me emphasized the health hazards of the restaurant chain’s food, the company responded with an initiative to introduce more healthy options, especially in children’s meals.

SeaWorld may be taking a similar approach with the ousting of Atchison and their restructuring plans, the report noted.

Though Jim Atchison is out as the SeaWorld CEO, he will have a safety net to fall back on. He will receive a $2.5 million payout and will still serve as a consultant, the San Diego Union-Tribune reported.