Vail Resort in Colorado. Photo: Shutterstock
Vail Resorts announced in a news release Tuesday that it was “the right time” to remove CEO Kirsten Lynch from the position she’d held since 2021 and replace her with longtime Chairperson Rob Katz. The move caps a volatile winter and spring for Vail Resorts that was filled with seemingly endless public relations storms, including a ski patrol strike at the company’s largest area, Park City Mountain, shares of the company suffering a sustained drop on Wall Street, and one investor making headlines with a letter calling for the ouster of Lynch, claiming “the core skiing community has labeled Vail the ‘Evil Empire.’”
The company’s newsletter made no mention of the public relations rollercoaster, nor did it point out details contributing to the removal of Lynch from her role. Instead, it said Lynch will remain with the company in an advisory role for an interim period, facilitating a smooth transition, and acknowledged her for “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.”
According to the Colorado Sun, Vail Resorts stock was at its record high of almost $375 a share. “It has traded below $200 a share since early 2024 and below $150 a share for the past two months, despite consistent, albeit slowing, annual growth in revenue and earnings,” they wrote.
The news of Katz’s return came with a spike in the company’s share price Wednesday morning, jumping as much as 15 percent early in the day.
The move to Katz is a return to the leadership structure that preceded Lynch’s time as CEO. Katz first served as CEO of the company starting in early 2006 and was appointed Chairperson on the Board of Directors in 2009. He stayed in both roles until late 2021, when Lynch was instilled as CEO. Notably, this was the period in which Vail Resorts launched its Epic Pass and ramped up its global acquisition spree.
Between 2010 and 2019, the company expanded by purchasing resorts like Tahoe’s Northstar and Kirkwood Mountain Resort, Afton Alps in Minnesota, and Mt. Brighton in Michigan, s well as Park City Mountain Resort, later combining it with Canyons Resort. Perisher Ski Resort in Australia was purchased in 2015, Whistler Blackcomb in 2016, as well as Stowe Mountain Resort in Vermont and nearby Okemo, Colorado’s Crested Butte, Mt. Sunapee in New Hampshire, and Stevens Pass, Washington. Vail owned five ski resorts at the start of Katz’s first run as CEO in 2006 and he’ll resume the role with Vail now owning and operating 42 resorts in the United States, Canada, Australia, and Switzerland.
“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.”
