Vail Resorts names Rob Katz, current executive chairperson and former chief executive officer, CEO of the company. Katz, age 58, succeeds Kirsten Lynch, who has stepped down as CEO and as a director of the board. Lynch will remain in an advisory role to the company for an interim period to facilitate a smooth transition.
"As Vail Resorts continues to execute its strategic priorities and transformational initiatives, the board believes now is the right time for this leadership transition," Bruce Sewell, lead independent director of the board, said in a statement. "Rob has a strong track record of driving innovation and executing consistent performance at Vail Resorts and has played a critical role in the development of Vail Resorts' operations and long-term strategy for over the past three decades. Rob's 16 years as CEO included reinvigorating the company during times of industry stagnation and challenging macro environments. We look forward to continuing to work closely with him to ensure that Vail Resorts consistently delivers for our employees, guests, communities, and shareholders as the worldwide ski industry leader."
"We are incredibly grateful for Kirsten's leadership and contributions over her 14-year career with Vail Resorts, including driving transformational growth of the Epic Pass, stewarding the business through unprecedented challenges, and driving meaningful investments in innovation to position Vail Resorts for future success."
"It is an honor to step back into the role of CEO of Vail Resorts, and it is a privilege to lead the incredible people who make our resorts and our company so special," Katz said. "I remain as passionate about Vail Resorts, the sport of skiing and snowboarding, and this industry as when I first became CEO nearly two decades ago. While the environment and the Company itself have changed, what remains the same is our deep-rooted commitment to all our stakeholders, including to our team members, our truly unique mountain resorts, and the communities we serve, as well as to our culture of innovation and constant improvement. I am very optimistic about the future of Vail Resorts and delivering for all our stakeholders. I want to thank Kirsten for her leadership over the past three and a half years; she has set us up for the next phase of growth, and I look forward to building upon that work."
Katz will continue to serve as the chairperson of the board, which comprises 11 directors.