Exclusive / Activist Oasis seeks board seats at Vail Resorts

Activist investor Oasis Capital Management has nominated a slate of directors at Vail Resorts and is preparing to launch a proxy fight, according to people familiar with the matter.

Oasis nominated former Disney CEO Bob Chapek, Ashton Hudson, Bryce Roberts, and Olympic gold medalist Picabo Street to Vail’s board, the company confirmed in a press release Friday morning.

A spokesperson for Oasis did not respond to a request for comment. Semafor earlier this year reported that Oasis was likely to pursue a proxy fight and that Vail Resorts was working with advisers to help it fend off a potential activist.

The accelerating pace of extreme weather has made snowfall on Vail’s properties less predictable. Economic pressures have pushed consumers to pull back on spending. And Vail’s unionized workers have been fighting with management over working conditions.

Looming over it all is billionaire Matthew Prince, a Park City resident who had expressed frustrations with how Vail Resorts has operated its Park City property, blaming Vail CEO Rob Katz for the company’s financial troubles.

Prince did not respond to a request for comment.