Viad Corp’s Strategic CFO Transition Sets a New Direction

Viad Corp Welcomes New Chief Financial Officer

Viad Corp (NYSE: VVI) has recently made waves with the announcement of Michael "Bo" Heitz stepping into the role of Chief Financial Officer. Heitz’s appointment is slated for March 2025, marking an exciting change in leadership at a crucial time for the company. This transition is not just a shift in management but a moves towards a more strategic vision for Viad as it prepares to evolve into separate entities.

A Smooth Transition and Continued Support

Ellen Ingersoll, who has served as the CFO for Viad since 2002, will continue to guide the company through this transition by staying on until the company files its Form 10-K for 2024. Her wealth of experience will be pivotal in ensuring a smooth handover to Heitz, who joined the company in December 2024 and is currently based in Pursuit’s Denver office. He plans to work closely with David Barry, the President of Pursuit and future CEO, ensuring that the company’s leadership is aligned with its strategic goals.

Celebrating Transformative Leadership

Steve Moster, Viad’s President and Chief Executive Officer, expressed gratitude for Ellen's exceptional contributions, noting her instrumental role throughout her 22-year tenure. Steve highlighted the significant transformations the company has undergone during this time. As the company pivots toward a new path as Pursuit, the leadership's stability and foresight will be essential.

The Financial Acumen of Michael Heitz

With a decade-long tenure at Vail Resorts under his belt, Heitz brings an extensive portfolio of financial and strategic expertise to Pursuit. His experience spans corporate development, investor relations, and capital markets, making him well-equipped for his new role. He served most recently as Vice President of Corporate and Mountain Finance, a position that has prepared him for the challenges ahead.

Strategic Group Dynamics

Heitz is optimistic about joining Pursuit during its critical growth phase, describing the company as an industry leader with exceptional assets and resources. He emphasizes the unique opportunities ahead as Pursuit transitions into a standalone public company following the sale of Viad’s GES business, which is projected to wrap up by year-end. This change will unlock Pursuit’s full potential and allow it to pursue aggressive growth strategies.

The Vision Forward

Under Heitz's guidance, Pursuit aims to capitalize on substantial opportunities within the attractions and hospitality sectors. The business model is set to undergo significant evolution, focusing on a Refresh, Build, and Buy strategy that aligns with growth objectives. Viad's impending rebranding as Pursuit signals this commitment to innovation and market adaptability.

Company Overview and Future Aspirations

Viad (NYSE: VVI) stands as a global leader offering extraordinary experiences across attractions, hospitality, exhibition services, and experiential marketing. The company is dedicated to delivering remarkable experiences while targeting sustainable growth and returns for its shareholders. As a proud member of the S&P SmallCap 600 index, Viad is well-positioned for potential expansion and adaptability.

Pursuit’s Enriching Experience Portfolio

Pursuit, as part of its business model, owns and operates a stunning array of attractions and hospitality services, striving to create inspiring journeys for guests. With 14 premier attractions and 28 unique lodgings, the company is rooted in delivering memorable experiences across iconic destinations, enriching the travel journey.

GES’s Role in the Larger Framework

GES enhances the event landscape by providing comprehensive exhibition services to leading event organizers. It operates through two main segments: GES Exhibitions and Spiro, each dedicated to strategic and logistical excellence. As Pursuit focuses on the attractions sector, GES continues to fortify Viad’s market presence in experiential marketing.

Frequently Asked Questions

Who will be the new CFO of Viad Corp?

Michael "Bo" Heitz has been appointed as the new CFO, succeeding Ellen Ingersoll.

When does the transition in leadership take place?

The transition will officially occur in March 2025, with Ellen Ingersoll supporting until the end of the fiscal year.

What is Pursuit focusing on as it becomes a standalone company?

Pursuit aims to pursue a Refresh, Build, and Buy strategy to maximize growth in the attractions and hospitality sectors.

How has Ellen Ingersoll contributed to Viad Corp?

Ellen has played a transformative role in Viad's development for over two decades, leading the financial strategies during significant changes.

What can we expect from Pursuit in the future?

Pursuit is set to capitalize on growth opportunities as it rebrands and expands its offerings in the attractions industry.

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