Denver, Colorado — In a surprising development, one of the big players in North America’s ski industry is changing up its leadership team.
Yesterday, the Alterra Mountain Company announced that Jared Smith will be leaving his position at the end of the 2025-26 ski season. A reason why was not given.
“Serving as CEO of Alterra has been an honor, and I am deeply proud of the incredible people, capabilities and businesses we’ve added to this amazing company,” said Jared Smith. “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.”
Jared Smith was first hired as the company’s President in 2021 and then became CEO in August 2022. He’s a bit of an enigma, which is the benefit you have when you’re running a private company. He conducted some interviews during his tenure, including a couple with the Storm Skiing Journal.
During Smith’s tenure, he helped drive significant growth at Alterra. This included acquisitions of Arapahoe Basin, Mike Wiegele Helicopter Skiing, Schweitzer, Snow Valley, and Ski Butlers. The Ikon Pass also grew, adding new partners across the world. There were also major capital projects during his time there, such as Full Steam Ahead at Steamboat and Deer Valley’s Expanded Excellence. Smith also ushered in reserve programs at properties, which drew mixed reactions from skiers. However, that additional revenue was probably appreciated during the dry winter out West.
“Jared has been a valued leader at Alterra Mountain Company for many years, and we are grateful for his leadership and partnership,” said Eric Resnick, Chairman of the Board of Alterra Mountain Company and CEO of KSL Capital Partners. “Over the course of his tenure, he has 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. We thank Jared for his contributions and wish Jared well as he chooses what to pursue next.”
Since launching the industry-changing Ikon Pass, Alterra has scaled rapidly and established itself as the world’s leading outdoor recreation company. “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.”
Regarding his replacement, the Executive Committee of Alterra’s Board will serve as the Office of the CEO. This Committee will consist of ownership representatives from both KSL Capital Partners and Henry Crown & Company. Both of these companies created Alterra in 2018. They’ll work alongside Rusty Gregory, who was Alterra’s CEO before Smith. Over the coming year, Jared will serve as a resource for the Office of the CEO. Alterra’s Board will also be looking for a new CEO.
Image/Video Credits: Jared Smith/Steamboat Resort, Storm Skiing Journal, Alterra Mountain Company
