Viad Corp (NYSE: VVI), a leading global provider of
extraordinary experiences, including hospitality and leisure
activities, experiential marketing, and live events, today
announced that David Barry, president of its Pursuit business, has
been diagnosed with a medical condition that will require surgical
treatment and a temporary leave of absence that may extend for
several months. The timing of David’s medical leave has not yet
been determined.
When David begins his medical leave, overall leadership of
Pursuit will transition, on an interim basis, to Derek Linde who
will serve as interim president of Pursuit while also maintaining
his current role as chief operating officer, general counsel &
corporate secretary of Viad. In addition, Sam Auck, CFO of Pursuit,
will assume a broader role partnering with the deep bench of senior
executives across Pursuit to maintain continuity of day-to-day
operations, reporting to Derek.
David continues to lead the Pursuit business and will do so
until he takes a leave of absence, and is working closely with
Derek, Sam, and the senior team at Pursuit to ensure business
continuity.
Steve Moster, president and CEO of Viad, commented, “We will
support David at every step and commend his commitment to the
ongoing success of Pursuit and intended return. Derek has worked
with David, Sam, and the Pursuit leadership team for the past
several years to support Pursuit’s growth initiatives and in his
interim role he will focus on continuing to drive Pursuit’s
Refresh, Build, Buy strategy in David’s temporary absence. The
Board and I have full confidence that Derek and the excellent team
of operational and functional leaders across Pursuit are
well-positioned to lead at the appropriate time.”
David commented, “Pursuit continues to strongly recover post
pandemic. I am committed to leading Pursuit's exciting growth
trajectory until my leave and returning to my role post-leave. I
have full faith and confidence that the talented team of leaders
across Pursuit with Derek and Sam’s leadership will continue to
successfully execute our exciting growth strategy and deliver
unforgettable experiences for our guests when I begin my temporary
leave.”
About Viad
Viad (NYSE: VVI) is a leading global provider of extraordinary
experiences, including hospitality and leisure activities,
experiential marketing, and live events through two businesses:
Pursuit and GES. Our business strategy focuses on delivering
extraordinary experiences for our teams, clients and guests, and
significant and sustainable growth and above-market returns for our
shareholders. Viad is an S&P SmallCap 600 company.
Pursuit is a collection of inspiring and unforgettable travel
experiences in Alaska, Montana, the Canadian Rockies, Vancouver,
Reykjavik, and Las Vegas, as well as new experiences planned in
Chicago and Toronto. Pursuit’s collection includes attractions,
lodges and hotels, and sightseeing tours that connect guests with
iconic places.
GES is a global, full-service live events company offering a
comprehensive range of services to the world's leading brands and
event organizers through two reportable segments, Spiro and GES
Exhibitions. Spiro is an experiential marketing agency that
partners with leading brands around the world to manage and elevate
their global experiential marketing activities. GES Exhibitions is
a global exhibition services company that partners with leading
exhibition and conference organizers as a full-service provider of
strategic and logistics solutions to manage the complexity of their
shows with teams throughout North America, Europe, and the Middle
East.
For more information, visit www.viad.com.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words, and variations of words, such as “will,” “may,”
“expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,”
“estimate,” “anticipate,” “deliver,” “seek,” “aim,” “potential,”
“target,” “outlook,” and similar expressions are intended to
identify our forward-looking statements. Similarly, statements that
describe our business strategy, outlook, objectives, plans,
intentions, or goals also are forward-looking statements. These
forward-looking statements are not historical facts and are subject
to a host of risks and uncertainties, many of which are beyond our
control, which could cause actual results to differ materially from
those in the forward-looking statements.
Important factors that could cause actual results to differ
materially from those described in our forward-looking statements
include, but are not limited to, the following:
- the impact of the COVID-19 pandemic on our financial condition,
liquidity, and cash flow;
- our ability to anticipate and adjust for the impact of the
COVID-19 pandemic on our businesses;
- general economic uncertainty in key global markets and a
worsening of global economic conditions;
- travel industry disruptions;
- seasonality of our businesses;
- unanticipated delays and cost overruns of our capital projects,
and our ability to achieve established financial and strategic
goals for such projects;
- our exposure to labor shortages, turnover, and labor cost
increases;
- the importance of key members of our account teams to our
business relationships;
- the competitive nature of the industries in which we
operate;
- our dependence on large exhibition event clients;
- adverse effects of show rotation on our periodic results and
operating margins;
- transportation disruptions and increases in transportation
costs;
- natural disasters, weather conditions, accidents, and other
catastrophic events;
- our exposure to labor cost increases and work stoppages related
to unionized employees;
- our multi-employer pension plan funding obligations;
- our ability to successfully integrate and achieve established
financial and strategic goals from acquisitions;
- our exposure to cybersecurity attacks and threats;
- our exposure to currency exchange rate fluctuations;
- liabilities relating to prior and discontinued operations;
and
- compliance with laws governing the storage, collection,
handling, and transfer of personal data and our exposure to legal
claims and fines for data breaches or improper handling of such
data.
For a more complete discussion of the risks and uncertainties
that may affect our business or financial results, please see Item
1A, “Risk Factors,” of our most recent annual report on Form 10-K
filed with the SEC. We disclaim and do not undertake any obligation
to update or revise any forward-looking statement in this press
release except as required by applicable law or regulation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220909005059/en/
Carrie Long or Michelle Porhola Investor Relations (602)
207-2681 ir@viad.com
Viad (NYSE:VVI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Viad (NYSE:VVI)
Historical Stock Chart
From Jul 2023 to Jul 2024