Vail Resorts, Inc. has announced that two of its Board of Directors members, John Sorte and John Redmond, will not stand for reelection at the end of their current terms, which conclude on the date of the Company’s 2025 Annual Meeting of Stockholders. Mr. Sorte has served on the Board since 1993 and Mr. Redmond has served since 2008. The Company also noted that at the conclusion of Sorte’s and Redmond’s terms, the Board will comprise nine Directors, eight of whom are independent.
The press release also highlighted the significant growth and expansion Vail Resorts has undergone, from a regional operator into the world’s largest mountain resort company. This growth was attributed to the efforts, experience, and leadership of Sorte and Redmond, who have provided invaluable insight and guidance to the company.
Vail Resorts, Inc. operates a network of ski resorts including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America, as well as international locations in Switzerland and Australia. The company also owns and/or manages a collection of elegant hotels under the RockResorts brand and operates more than 250 retail and rental locations across North America.
The company’s EpicPromise is to reach a zero net operating footprint by 2030, support its employees and communities, and broaden engagement in the sport. This commitment aligns with the company's mission to create the Experience of a Lifetime for its team members and guests.
It was also mentioned that neither Mr. Sorte’s nor Mr. Redmond’s decision not to seek reelection was due to any disagreement with the Company on any matter relating to operations, policies, or practices.
No specific financial metrics or changes from the last period were provided in the press release. The market has reacted to these announcements by moving the company's shares 1.16% to a price of $149.46. Check out the company's full 8-K submission here.
