The CEO of Alterra will step down at the end of the season, the company announced Tuesday. Jared Smith has been CEO of the Denver-headquartered company that sells the Ikon Pass since 2022.
The CEO of ski industry giant Alterra will step down at the end of the season, the company announced Tuesday. Jared Smith has been CEO of the Denver-headquartered company that sells the Ikon Pass since 2022.
No new CEO has been named. Members of an executive board — including representatives from parent companies KSL Capital Partners and Henry Crown & Company, along with former Alterra CEO Rusty Gregory — will serve as an office of the CEO and lead day-to-day operations through the end of the season and until a new CEO is appointed, according to the announcement. Smith will serve as 'a resource' to the leadership team over the next year, the release said. The announcement did not provide a reason for the departure, and a representative for Alterra did not respond to Denver7 by the time of publication. Smith, who the release said was announcing 'his intention to step down from his role,' called serving as CEO 'an honor.'“I am deeply proud of the incredible people, capabilities and businesses we’ve added to this amazing company,' he said in the release. 'The commitment of the ownership group to these mountains, and to the team members and communities they serve, is truly unique. I’m confident the progress we’ve made has positioned the company well to build on that foundation in the years of growth ahead.”Alterra is a private company and does not disclose finances as a publicly-traded company would, but the release said the company has invested over $2 billion into its roster of resorts over the past eight years, most recently including a $400 million expansion at Utah's Deer Valley. Launched in 2018, the Ikon Pass currently offers access to more than 70 ski resorts across the world, including Winter Park, Copper, Abasin, Eldora, Aspen Snowmass and Steamboat in Colorado. Eric Resnick, chairman of the board of Alterra Mountain Company and CEO of KSL Capital Partners, said in the release that Smith had 'made a lasting impact during a period of continued growth and operational advancement, while ensuring the company maintained the culture and commitment to our communities that make Alterra special.'“Since launching the industry-changing Ikon Pass, Alterra has scaled rapidly and established itself as the world’s leading outdoor recreation company,” Resnick said. “Today, Alterra continues to grow its global footprint and advance the most significant mountain resort investment program in the industry. On behalf of the Board, I’m proud of what Alterra and Ikon Pass have accomplished, expanding access for our guests and investing heavily in the guest experience all while honoring the mountains, the communities and the people that define each of our destinations. We embrace our stewardship of the mountains and the communities we call home. The best is yet to come.”Prior to joining Alterra in 2021, Smith had worked at Ticketmaster for more than 15 years, where he served as president and global chairman, according to his LinkedIn profile. The announcement comes amid a difficult season for Rocky Mountain ski areas and less than a week after 2026-27 Ikon Pass prices were announced at costs nearly 30% higher than the rival Epic Pass.
Henry Crown & Company Alterra Alterra Ceo Alterra Leadership Alterra Owner Epic Pass Ikon Owner Ikon Pass Jared Smith
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