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After months of shareholder anxiety, a ski patrol strike in Park City, and mounting public backlash, Vail Resorts has fired CEO Kirsten Lynch.
The company announced on May 27, 2025, that Lynch will be replaced by her predecessor, Rob Katz, who returns to the role he held from 2006 to 2021.
Lynch took the helm in late 2021 after serving as Vail’s Chief Marketing Officer. Her tenure has been defined by falling stock prices, labor unrest, and growing resentment from the skiing public—many of whom view Vail as the poster child for over-consolidation in the ski industry-- or worse, the 'evil empire' exploiting mountain towns far and wide. Katz, who oversaw Vail’s rapid expansion and a tenfold increase in stock value during his prior term, is being brought back, ostensibly to steady the ship.
“As Vail Resorts continues to execute its strategic priorities and transformational initiatives, the Board believes now is the right time for this leadership transition,” said Bruce Sewell, Lead Independent Director of Vail’s Board of Directors.
What Katz’s return means for skiers and workers remains to be seen.
The Golden Parachute
Despite being fired, Lynch isn’t walking away empty-handed. According to SEC filings, she’ll receive $2.25 million in severance, equivalent to two years of salary, plus full vesting of her unvested stock. Her last day is set for September 26, 2025, and until then, she’ll remain on payroll as a “strategic advisor” to Katz.
CEO payouts like this are unfortunately commonplace in the United States, where it’s often easier—and cheaper—for companies to part ways with CEOs “without cause,” and offer a cushy exit, rather than risking litigation.
But these numbers sting. Vail fought Park City’s ski patrollers aggressively over a contract asking for less than $800,000 in additional annual wages— a cost of living adjustment to afford life near the mountain they serve. Meanwhile, the company is dishing out millions on Lynch's way out the door. For context, Vail Resorts had $488 million in liquid cash as of January 31, 2025, according to filings reported by POWDER.
Katz Returns, Stock Jumps
The message to Wall Street is clear: stability is back. During Katz’s earlier tenure, Vail’s stock soared from $30 to over $300. Since Lynch’s departure, shares have already jumped nearly 10% in 24 hours. Investors are clearly optimistic. Read Katz's full letter to Vail employees here.
What Now?
Vail Resorts wants this to read as a reset. But the issues under Lynch’s tenure—corporate overreach, worker exploitation, and declining guest sentiment—didn’t start with her, and they probably won’t end with a CEO swap.
Katz is back. The stock is up. But the people riding lifts—and running them—are waiting for real change.