Two-time Olympian and Parkite Picabo Street has been nominated by Vail Resorts shareholder Oasis Management for a seat on the resort company’s board.
The Park City Mountain owner announced Friday that she is one of four board recommendations from the hedge-fund management firm. The others are former Disney CEO Robert Chapek of Florida, Florida-based financier M. Ashton Hudson and Bryce Roberts of Utah. Gregory Syvert Meyer of Florida nominated himself.
Oasis owns about 6.5% of Vail’s stock, according to its most recent Securities and Exchange Commission filings.
The firm’s recommendations appear to be part of an effort to influence Vail. The update comes months after rumors surfaced Oasis was weighing a proxy fight.
That involves replacing board members, former Securities and Exchange Commission Division of Enforcement associate director Bill Baker told KPCW’s “Mountain Money” in July.
“If you want to engage in a proxy fight, you try and replace the existing directors with directors who are more sympathetic to your point of view,” he said.
Baker said Oasis differs from other large Vail investors; it has a reputation as an activist investor. Unlike passive investors, activist investors want to guide companies — and Baker said Oasis has had success in that role primarily in Asia.
“What does that mean? It's really twofold. One is, have they been able to effectuate the changes that they thought would improve business prospects, and as a result of those changes, have they made money? Yeah,” he said.
Vail said its board will provide a recommended slate of nominees after the candidates are vetted. Those are filed with the SEC and distributed to eligible voting shareholders ahead of the board’s annual meeting. A meeting date has not been set.
Vail, which owns 42 resorts across four countries, previously said its search for a new independent board director is expected to wrap in 2027.
This is a developing story and will be updated.
