Vail Resorts, Inc. (NYSE: MTN) has announced changes to its Board of Directors, with members John Sorte and John Redmond not standing for reelection at the end of their current terms. Mr. Sorte has been on the Board since 1993, while Mr. Redmond joined in 2008. The Board will now comprise nine Directors, eight of whom are independent, following the conclusion of their terms.
The company's mission to create the Experience of a Lifetime for employees and guests has seen substantial growth under the guidance of Mr. Sorte and Mr. Redmond. Vail Resorts has expanded from a regional operator into the largest mountain resort company globally. The company expressed gratitude for their invaluable insight and leadership, emphasizing their contributions to the launch of the Epic Pass, strategic acquisitions in North America, and expansion into Europe and Australia.
Vail Resorts is committed to ongoing Board refreshment, ensuring the right mix of skills and expertise to support the company's strategy and drive long-term sustainable shareholder value. The decision of Mr. Sorte and Mr. Redmond not to seek reelection was not due to any disagreement with the company on operational matters.
The company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums, and branded hotels, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America.
As of the last financial report, Vail Resorts reported a revenue of $3.3 billion, up 18% from the previous period. The net income stood at $301.3 million, marking a 23% increase from the last period. Earnings per share also saw a significant rise to $7.40, up 22% from the previous period. Today the company's shares have moved 0.22% to a price of $148.06. For the full picture, make sure to review VAIL RESORTS INC's 8-K report.
