The executive chairman whose family founded Village Roadshow theme parks more than 70 years ago has moved aside, and his CEO son will have to job-share, while the company battles an embezzlement scandal worth more than $1m.

Village executive chairman Robert Kirby, whose late father Roc Kirby founded the group in 1954, will be replaced as executive chairman by Peter West, who joined the group’s majority owner BGH Capital last month.

Mr Kirby will continue as co-chairman, while his son, CEO Clark Kirby, is now a co-CEO, having also been joined by Mr West, a former Coca-Cola executive.

Both Kirbys remain directors of parent company VRG Holdco, along with representatives of BGH, and neither is accused of any wrongdoing.

Village Roadshow operates Movie World, Sea World, Wet’n’Wild, Top Golf, Australian Outback Spectacular and Paradise Country on the Gold Coast as well as it national cinema chains, marketing consultancy Opia and its film and TV production and distribution businesses.

Clark Kirby emailed staff of Village Roadshow last week, describing the changes as “an exciting new chapter”.

“Peter is one of Australia’s most accomplished business leaders, with decades of experience successfully transforming complex organisations,” he said.

“His leadership, energy, and deep operational expertise will be invaluable as we sharpen our focus and elevate performance across the group.

“As Co-CEOs, Peter and I will work in close partnership over this 12-month period.

“Within Theme Parks, Peter will take a hands-on leadership role in Management and Operations, while my focus will be on broader strategic growth opportunities and strengthening critical State and Local Government relationships.

“Across Village Cinemas, Roadshow, and Opia, Peter and I will share responsibilities, however I will be taking a more active, frontline role to drive continued momentum and performance.”

The Courier-Mail understands multiple employees have now been dismissed by Village as investigators probe allegations well over $1m was fraudulently obtained from the company.

It is understood the allegations involve cash and other benefits obtained over a long period of time – potentially more than five years.

Among those facing the allegations, which are still under investigation and unproven, is a very high level executive who had been there for 15-20 years and left the company earlier this year.

He can’t be named for legal reasons.

Village Roadshow told The Courier-Mail Mr West would “lead a bold and comprehensive transformation of Village Roadshow’s operations and leadership, designed to reinvigorate every part of the business and position the company strongly for the decades ahead”.

Clark Kirby said he was “delighted to welcome Peter to the executive team”.

“The founding Kirby and Burke families together with BGH, see the coming year as a pivotal moment to refresh, re-energise, and elevate Village Roadshow to new heights and Peter’s leadership, energy, and deep operational expertise will be invaluable as we sharpen our focus and elevate performance across the Group,” he said.

Mr West has previously held roles at roles at Lion Dairy & Drinks, Mars Confectionery, and Arnott’s and is a non-executive director at Dominos Pizza.

In a statement via Village Roadshow, he said he looked forward to elevating the company “to new heights”.

“For more than 70 years, Village Roadshow has been Australia’s leading theme park and entertainment company, and I am invigorated to join Clark, Robert and the BGH team to write the next chapter together,” he said.

“A key priority will be strengthening our market-leading Theme Parks division, an iconic asset with enormous potential, while also looking at opportunities to drive continued momentum and performance across Cinemas, Roadshow and Opia businesses.”

https://www.dailytelegraph.com.au/business/new-south-wales/village-roadshow-ceo-clark-kirby-and-chairman-robert-kirby-to-share-roles-amid-1m-employee-embezzlement-probe/news-story/ec11dfb70f72506ddeeec13620670806

Sounds to me like it’s not just some guests who are unhappy with the direction of the park, but BGH as well. That’s definitely the vibe I’m getting.

After a quick LinkedIn stalk, I’m sure that bringing in a CEO who has never worked in the theme park industry (or the wider leisure industry for that matter) is going to make things better

Probably more of the same PE nickel and diming we’ve seen from village since they were bought

Edited May 27May 27 by Baconjack

18 hours ago, Baconjack said:

After a quick LinkedIn stalk, I’m sure that bringing in a CEO who has never worked in the theme park industry (or the wider leisure industry for that matter) is going to make things better

Probably more of the same PE nickel and diming we’ve seen from village since they were bought

Here's the thing.... I a lot of skills are transferable from industry to industry...

I think you’re missing the point of why BGH brought in a new CEO.

BGH is a private equity firm. Their whole model is usually buying a business, improving performance and profitability, increasing the value of it, then eventually selling or refinancing it for more.

To me, this appointment probably points more towards focusing on systems, operations, efficiency, execution, and overall commercial performance, rather than “let’s build five new rollercoasters tomorrow.”

Spreadsheets sharpening is what I believe is going on here not a transfer of skills.

Edited May 28May 28 by New display name

3 hours ago, ShakeShack said:

Here's the thing.... I a lot of skills are transferable from industry to industry...

What skills could you transfer from the junk food business to theme parks apart from 'cost optimisation' (something which PE firms foam at the mouth over) which is probably why he's been appointed in the first place. If you're hearing that term going around then there's a chance that it won't be very good for the customer

Edited May 28May 28 by Baconjack

Let’s remember that DW is ent through a several year period of having a CEO who ho had no industry experience and we know how that turned out.

Now they have a CEO with decades of industry experience and they’re thriving

DW has definitely benefited from having leadership that’s been able to invest more heavily back into the park. If BGH wants to drive growth, continued investment needs to play a big part too, but in ways guests genuinely value and can feel throughout the whole experience, not just headline grabbing additions like WOZ.

6 hours ago, ShakeShack said:

Here's the thing.... I a lot of skills are transferable from industry to industry...

You're right - and there can be successful crossovers (Eisner is a memorable Disney example) but historically our parks have flourished with experienced theme park leadership, rather than generalised business leadership experience.

2 hours ago, Baconjack said:

What skills could you transfer from the junk food business to theme parks apart from 'cost optimisation'

Marketing and selling your products to a youthful audience? (just being devils advocate here)

Also note that CK is staying on as co-CEO so it's not like there's zero experience in the industry at the top. Eisner was balanced by Frank Wells and many would agree that the Eisner & Wells era was definitely a golden period for Disney - and the loss of Wells was certainly a marked turning point in the Eisner era.

2 hours ago, themagician said:

Let’s remember that DW is ent through a several year period of having a CEO who ho had no industry experience and we know how that turned out.

Now they have a CEO with decades of industry experience and they’re thriving

bingo.