Vail Resorts (MTN) shareholder Late Apex Partners has called for the ouster of Chief Executive Kirsten Lynch, Chief Financial Officer Angela Korch and Executive Chairman Rob Katz, The Wall Street Journal reported Monday.
In a letter, Late Apex criticized Vail's insider compensation incentives, capital allocation strategy, key performance indicators and balance sheet management, the report said.
"We believe Vail is fixable, but the board must act now to hold management accountable," Late Apex said, according to the WSJ report said.
Vail did not immediately reply to a request for comment from MT Newswires.
The company's shares were 2.7% higher in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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