Vail Resorts chairman and CEO Adam Aron to step down

Vail Resorts chairman and CEO Adam Aron to step downVail, Colorado Vail Resorts, Inc. announced that Chairman and CEO Adam Aron has decided to resign effective June 28, 2006. Aron selected the June 28 date because it marks his 10th anniversary as chairman and CEO of the company.

During the five-month interim period, Aron will work closely with the company’s board of directors to ensure a well-run and seamless transition. Aron also said he intends to make himself available to be of counsel or assistance to the company, as requested by the board, after June 28.

The company’s board of directors will immediately commence a search for Aron’s successor, which will include external and internal candidates. During the transition, the members of the Vail Resorts Board of Directors Executive Committee will step up their oversight and direct involvement in key decisions being made. Other than Aron, the Executive Committee is comprised of Robert A. Katz, the company’s lead director, and Joe R. Micheletto. As both are long-time directors of Vail Resorts, each has had significant roles in the company’s strategic direction.

‘For me, this is an exciting and obviously personal announcement. I have immensely enjoyed every minute of what will ultimately be my ten-year tenure as Chairman and CEO of Vail Resorts’ Aron said. ‘And I am grateful to the countless individuals who have been so kind to me along the way and so instrumental in Vail Resorts success. My continued commitment to Vail Resorts runs deep, as does my affection for the Vail Valley where I have lived for a decade. Accordingly, I will purchase as planned my Arrabelle residence in Vail, knowing with certainty that my strong connection to Colorado will extend for the remainder of my life.’

Courtesy Vail Resorts