PARK CITY, Utah, Dec. 17 /PRNewswire-FirstCall/ -- American Skiing Company announced today that it has appointed Betsy Wallace to the position of Senior Vice President and Chief Financial Officer. The Company further reported that Mark J. Miller has been named Executive Vice President and Chief Operating Officer, filling a position that was open. Both appointments are expected to become effective on January 13, 2003.
Betsy is an excellent addition to our senior management team, said CEO B.J. Fair. She brings more than 20 years of accounting, tax and corporate finance experience as well as a proven ability to plan and execute complex financial transactions. Betsy possesses not only the necessary financial skills to complete the financial turn-around we implemented last year, but also the leadership skills necessary to deliver improved financial performance going forward.
In a simultaneous strategic move, Mark J. Miller will leverage his extensive experience in the leisure industry and assume the COO position. B.J. Fair, who was named President and CEO of the Company in March 2001, previously held the COO position. Mr. Miller has served as Chief Financial Officer since joining the Company in December 1998.
Mark has done an exceptional job of navigating the Company through a number of significant challenges, continued Fair. He brings over 17 years of experience in the leisure and entertainment industries to the COO position as well as a proven track record of strategic development and planning. I am confident that Mark has an optimal set of skills to further improve our resort operating performance and execute on our growth strategy.
Professional Experience - Betsy Wallace
Prior to joining American Skiing Company, Ms. Wallace served as Chief Financial Officer of Cyrano Sciences, Inc., a late stage start-up technology company, where she was responsible for all financial, budgeting and legal aspects of the of the organization. From 1998 to 2000, Ms. Wallace worked for Citigroup, a leading international provider of financial services, and held the positions of Vice President, Director of Business Development and Vice President, Regional Financial Controller Investment Products & Distribution for the bank's Asia regional consumer bank business based in Singapore. >From 1995 to 1998, Ms. Wallace held senior financial positions while in Singapore with Hubbell, Inc., a large U.S. based manufacturing company, and International Business Machines. Prior to joining IBM, Ms. Wallace served as Director of Finance for Esprit de Corporation, an international design and distribution clothing company, from 1988 to 1995. From 1979 to 1988, Ms. Wallace worked in public accounting starting her career with Touche Ross in Los Angeles. Ms. Wallace holds a Bachelor of Science Degree in Accounting from the University of Southern California and a Bachelor of Arts Degree in Psychology from the University of California, Los Angeles. She is married and will relocate from Los Angeles to Park City, Utah to assume her position with American Skiing Company.
Professional Experience - Mark J. Miller
Prior to joining American Skiing Company, Mr. Miller served as Executive Vice President of Financial Administration with Showboat, a Nevada based gaming and hotel company, overseeing the company's financial operations during the transition period preceding its acquisition by Harrah's, Inc. From 1994 to 1997, he served as Executive Vice President of Operations overseeing resort and gaming operations in the United States and Australia. Prior to joining the executive division of the company, Mr. Miller was a senior manager at the Company's largest subsidiary, the Atlantic City Showboat, from 1985 until 1994 starting as Controller, becoming Vice President of Finance and Chief Financial Officer, Executive Vice President and Chief Operating Officer, and ultimately President and Chief Executive Officer. Mr. Miller has also held positions at Citibank and KPMG Main Hurdman, both in Las Vegas. Mr. Miller holds a Bachelor of Science and Masters Degree of Accountancy, both from Brigham Young University. He is married with four children.
About American Skiing Company
Headquartered in Park City, Utah, American Skiing Company is one of the largest operators of alpine ski, snowboard and golf resorts in the United States. Its resorts include Killington and Mount Snow in Vermont; Sunday River and Sugarloaf/USA in Maine; Attitash Bear Peak in New Hampshire; Steamboat in Colorado; and The Canyons in Utah.
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