Alterra Mountain Company Announces Leadership Transition

DENVER--(BUSINESS WIRE)--Alterra Mountain Company, the world’s leading outdoor recreation company, today announced a leadership transition. Jared Smith has announced his intention to step down from his role as Chief Executive Officer at the end of this season.

“Serving as CEO of Alterra has been an honor, and I am deeply proud of the incredible people, capabilities and businesses we’ve added to this amazing company,” said Jared. “The commitment of the ownership group to these mountains, and to the team members and communities they serve, is truly unique. I’m confident the progress we’ve made has positioned the company well to build on that foundation in the years of growth ahead.”

“Jared has been a valued leader at Alterra Mountain Company for many years, and we are grateful for his leadership and partnership,” said Eric Resnick, Chairman of the Board of Alterra Mountain Company and CEO of KSL Capital Partners. “Over the course of his tenure, he has made a lasting impact during a period of continued growth and operational advancement, while ensuring the company maintained the culture and commitment to our communities that make Alterra special. We thank Jared for his contributions and wish Jared well as he chooses what to pursue next.”

During the transition, an Executive Committee of the Board will function as an Office of the CEO, comprising ownership representatives from KSL Capital Partners and Henry Crown & Company, together with Rusty Gregory, former CEO of Alterra Mountain Company, to lead the company’s day-to-day operations through the end of the season and until a new CEO is appointed. The Board will launch a comprehensive search process to identify a new leader to continue Alterra’s growth trajectory. Jared will serve as a resource to the Office of the CEO over the next year to support a seamless transition.

“Since launching the industry-changing Ikon Pass, Alterra has scaled rapidly and established itself as the world’s leading outdoor recreation company,” continued Eric. “Today, Alterra continues to grow its global footprint and advance the most significant mountain resort investment program in the industry. On behalf of the Board, I’m proud of what Alterra and Ikon Pass have accomplished, expanding access for our guests and investing heavily in the guest experience all while honoring the mountains, the communities and the people that define each of our destinations. We embrace our stewardship of the mountains and the communities we call home. The best is yet to come.”

As part of a long-term capital program that has included more than $2 billion invested over the past eight years, Alterra continues to deploy substantial resources across its family of iconic, year-round mountain destinations. Most recently, the company announced a more than $400 million investment in Deer Valley Resort in Utah to support transformative resort expansions, on-mountain infrastructure enhancements and meaningful enhancements to employee benefits and housing. Through Ikon Pass, Alterra connects guests with an unmatched collection of more than 70 renowned destinations worldwide while empowering each destination to maintain its unique identity, operating model and deep ties to the mountain communities it serves.

About Alterra Mountain Company

Alterra Mountain Company is a family of iconic year-round mountain destinations, the world’s largest heli-skiing operation and Ikon Pass - the premier ski and snowboard season pass offering access to more than 70 iconic mountain destinations around the world. Headquartered in Denver, Colorado and born out of a shared love of the mountains and adventure, the company has brought together some of the world’s most aspirational brands, including: Steamboat, Winter Park and Arapahoe Basin in Colorado; Palisades Tahoe, Mammoth Mountain, June Mountain, Big Bear Mountain Resort and Snow Valley in California; Stratton Mountain and Sugarbush Resort in Vermont; Snowshoe Mountain in West Virginia; Tremblant in Quebec and Blue Mountain in Ontario, Canada; Crystal Mountain in Washington; Schweitzer in Idaho; Deer Valley Resort and Solitude Mountain Resort in Utah; CMH Heli-Skiing & Summer Adventures and Mike Wiegele Helicopter Skiing in British Columbia. Also included in the portfolio is Alpine Aerotech, a worldwide helicopter support and maintenance service center in British Columbia, Canada, Aspenware, the ski industry leader in technology services and e-commerce and Ski Butlers, the global leader in ski and snowboard rental delivery. For more information, please visit https://www.alterramtn.co/.