"It's been no secret that Bob wanted to work day to day for five years. He stayed an extra year because of the Clay Brook project. He is still one of our partners and still a member of the board of directors," Smith said.
SEAMLESS TRANSITION
He's done a great job of developing a team and of re-organizing what that team does. He is going to continue to work proactively on Sugarbush issues, but with less day-to-day oversight of the real estate group," Smith said.
"It should be a seamless transition," he added.
Smith said that he, Ackland and Adam Greshin, vice president of guest and community relations, would continue to oversee Summit Ventures and serve on the board of directors.
"Adam will continue in his role, overseeing community relationships. He has not had day-to-day oversight of activities," Smith said.
ESTY ON BOARD
He said that Dave Esty has joined the company's board of directors and also noted that additional board members may be sought to bring added expertise to the existing board, which consists of Smith, Esty, Greshin and Ackland.
"What we're doing is formalizing what's actually been in place and recognizing the maturity of the organization," he continued.
Smith said Ackland was transitioning into a role which makes sense for him and for the resort. Ackland said he was not at liberty to talk about the transition and declined to comment, referring questions to Smith.
"I'm still president and CEO of Summit Ventures, which I've been. We've developed a nice team of people and I feel comfortable with the leadership team we have," he added.
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