Vail Resorts, Inc. (NYSE: MTN) has announced the appointment of Julie DeCecco as its new General Counsel and Executive Vice President, effective immediately. DeCecco, who previously served as the company's deputy general counsel and vice president, succeeds David Shapiro, who is departing to pursue a new career opportunity.
Kirsten Lynch, chief executive officer of Vail Resorts, expressed confidence in DeCecco's capabilities, stating, "Julie is a proven leader who has played a crucial role in nearly every aspect of our business over the last seven years. I am pleased to see Julie promoted into this role – a testament to our company’s strong talent pipeline and diligent succession planning. Julie’s thorough understanding of our business and extensive legal expertise will be an asset to Vail Resorts as we continue to grow."
DeCecco, who joined Vail Resorts in 2017 as associate general counsel and was promoted to deputy general counsel in 2018, brings a wealth of experience to her new role. She oversees legal functions for the company’s corporate and mountain divisions, as well as its real estate division. Lynch emphasized DeCecco's extensive legal expertise and understanding of the company's business, highlighting her previous roles at DaVita and Sun Microsystems (now Oracle).
Lynch also expressed gratitude to David Shapiro for his leadership during his nearly nine years as general counsel, acknowledging his meaningful impact on the company and its talent development during a period of transformation and growth.
Regarding the company's outlook, Vail Resorts is known for its network of ski resorts across North America, Switzerland, and Australia, and its industry-changing Epic Pass. The company is committed to providing an "Experience of a Lifetime" to its team members and guests, with a focus on achieving a zero net operating footprint by 2030 and supporting employees and communities through its EpicPromise initiative.
In the stock market, Vail Resorts' shares have experienced a 0.7% decrease and are currently trading at $226.37.
For more information, the company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (M) | $2,012 | $2,272 | $1,964 | $1,910 | $2,526 | $2,881 |
| Operating Margins | 20% | 21% | 11% | 14% | 24% | 18% |
| Net Margins | 19% | 13% | 5% | 7% | 14% | 10% |
| Net Income (M) | $380 | $301 | $99 | $128 | $348 | $285 |
| Net Interest Expense (M) | $63 | $79 | $107 | $151 | $148 | -$153 |
| Depreciation & Amort. (M) | $204 | $218 | $250 | $253 | $252 | $269 |
| Diluted Shares (M) | 41 | 40 | 40 | 40 | 40 | 38 |
| Earnings Per Share | $9.13 | $7.32 | $2.42 | $3.13 | $8.55 | $6.74 |
| EPS Growth | n/a | -19.82% | -66.94% | 29.34% | 173.16% | -21.17% |
| Avg. Price | $223.45 | $206.89 | $201.87 | $298.55 | $245.52 | $228.07 |
| P/E Ratio | 23.77 | 27.73 | 82.4 | 94.18 | 28.55 | 33.84 |
| Free Cash Flow (M) | $408 | $442 | $223 | $410 | $518 | $325 |
| CAPEX (M) | $141 | $192 | $172 | $115 | $193 | $315 |
| EV / EBITDA | 16.94 | 14.69 | 21.23 | 25.89 | 13.44 | 13.84 |
| Total Debt (M) | $1,487 | $2,005 | $2,388 | $2,705 | $2,770 | $2,732 |
| Net Debt / EBITDA | 2.19 | 2.69 | 4.07 | 2.41 | 1.86 | 2.59 |
| Current Ratio | 0.5 | 0.44 | 0.89 | 1.4 | 1.21 | 0.83 |
