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Category: Disasters and Accidents / Accidents - Other / Accidents / Business, Economics and Finance

Dreamworld under fire from business experts for rushing recovery process

Thursday, 27 Oct 2016 16:20:57 | David Taylor

Ardent Leisure CEO Deborah Thomas faced questions at the AGM in Sydney. (AAP: Dean Lewins)

The board of Dreamworld's parent company Ardent Leisure has been criticised by several experts for its handling of this week's tragedy at the Gold Coast theme park.

Key points:

  • Ardent is accused of rushing the process of reopening Dreamworld
  • Police are still investigating how four people died
  • Ardent's CEO is donating $167,500 to charity

Plans to reopen the park this weekend have been shelved as Queensland Police continue their investigations into how four people died on the Thunder River Rapids ride on Tuesday.

Ardent CEO Deborah Thomas has announced she is donating her $167,500 bonus to charity after coming under fire for failing to contact the families of the dead people after the accident.

The issue dominated Ardent's annual general meeting in Sydney today.

But Professor Thomas Clarke, a corporate governance expert at UTS Sydney, said the board failed to adequately convey that it understood the seriousness of the situation.

"Obviously the directors were attempting to recognise their responsibilities that reference this disaster," he said.

"But there was also an apparent indication of wanting to press on with the business too."

Dreamworld had planned to open its doors again on Friday, but that plan was cancelled on Thursday, with the park saying it had been "advised by Queensland Police Service that we are unable to proceed with tomorrow's memorial service as planned".

The park will now stay closed until at least Monday.

Investment expert Roger Montgomery said it was in everyone's interests to hold off the opening for as long as it took to restore public confidence in the theme park.

"It's absolutely essential that the public believes the company has gone through the entire park with a fine-tooth comb and can absolutely provide a rock-solid guarantee that it is now safe for all future guests," Mr Montgomery said.

"That will benefit all stakeholders, it will honour the grieving and it will ensure that the future prospects of the business remain bright.

"I don't think enough time has actually passed."

CEO won't 'discuss transactions at this point' after Dreamworld fatalities Video: CEO won't 'discuss transactions at this point' after Dreamworld fatalities (ABC News)

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