Les Otten Resigns from American Skiing Co. Board of Directors
Park City, UT - In the latest turn of events in the saga of American Skiing Company (ASC), Leslie B. Otten today announced his resignation from the company's Board of Directors, effective immediately. The move further fuels speculation regarding the fate of the company's two remaining Eastern ski and snowboard resorts, Sunday River and Sugarloaf/USA, both in Maine.
Starting with Sunday River, Otten built a ski resort empire that ultimately became American Skiing Company. He took the company public over 10 years ago before ultimately resigning his position as CEO but remaining on as a board member.
“Les Otten has been an integral member of the American Skiing Company board since he founded the Company in 1996,” said Board Chairman Steven B. Gruber. “He was one of the real innovators in the ski industry and the company has benefited greatly from his insights. On behalf of the board, I would like to thank him for his service.”
ASC's ski resort sell-off has hastened over the past month, as sales of its Killington, Pico and Mount Snow ski resorts, all in Vermont, and Attitash in New Hampshire were announced. Widespread rumors have circulated regarding the potential sale of Sunday River and Sugarloaf/USA, possibly back to Otten, who still maintains a home outside of Bethel, Maine near Sunday River. Otten has repeatedly been quoted in past weeks as refusing to comment on the speculation, citing his position on ASC's Board of Directors.
"“I leave the board with mixed feelings,” Otten said today. “It’s been a pleasure to serve and help guide the Company and I wish everyone well. I truly enjoyed my tenure with the board, but now it’s time to look at other options.”
Should American Skiing Company sell its two Maine holdings, the company that once owned 10 ski resorts across the United States will be left only with The Canyons in Utah.
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Les Otten Resigns from American Skiing Co. Board of Directors
