- Push-out Score determined
- After almost 16 years in the position
- Praise for Katz
- Kirsten Lynch taking over
- Katz will remain as executive chairperson at Vail Resorts
- Katz made a lengthy statement and said 269 words
(exechange) — Broomfield, Colorado, August 10, 2021 — Rob Katz, chief executive of Vail Resorts, leaves his position. As announced by Vail Resorts Inc. in a news release and in a regulatory filing published on Tuesday, August 10, 2021, Robert A. (Rob) Katz leaves his post as chief executive officer at the mountain resort operator after almost 16 years in the role, effective November 1, 2021.
It is the end of an era.
Rob Katz’s duties as CEO will be taken over by Kirsten A. Lynch, currently chief marketing officer at Vail Resorts Inc.
“The right time for me to take a step back”
Rob Katz’s departure from the CEO post is explained as follows. Katz said: “[W]ith our Company having just navigated the most challenging period in its history and coming out stronger than when it began, this is the right time for me to take a step back and play a different role at Vail Resorts.”
Katz will remain as executive chairperson at Vail Resorts
“Kirsten Lynch, the Company’s chief marketing officer, will be appointed chief executive officer and elected to the Company’s board of directors, effective November 1, 2021. At that time, Rob Katz, the Company’s current chief executive officer, will be appointed executive chairperson of the board and remain fully active and engaged in Vail Resorts’ key strategic decisions and priorities. Additionally, at that time, Ryan Bennett, currently vice president of marketing, lift revenue, will be named chief marketing officer of Vail Resorts,” Vail Resorts said.
“Transition”
Vail Resorts said: “Robert A. Katz, Chairman and Chief Executive Officer, plans to transition out of his role as Chief Executive Officer and into the role of Executive Chair effective November 1, 2021.”
Share price increase since August 2016
The announcement follows an increase in Vail Resorts Inc.’s share price of 111% since August 2016.
In the position of CEO since 2006
Rob Katz became CEO of the Company in 2006.
Katz served as Lead Director of the Company from June 2003 until his appointment as Chief Executive Officer in February 2006.
Prior to becoming the Chief Executive Officer, Katz was associated with Apollo Management L.P., a private equity investment firm, since its founding in 1990.
Katz serves on the Wharton Leadership Advisory Board at the University of Pennsylvania.
Katz has previously served on numerous private, public and non-profit boards.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Rob Katz’s move on a scale of 0 to 10.
exechange reached out to Vail Resorts and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 33.2021 ($).