Oasis Management Drops Board Nominees in Vail Resorts Proxy Battle

Oasis Management withdrew two of its four board nominees in a proxy battle against Vail Resorts to distance itself from allegations of collusion. The move follows claims from Vail Resorts that the activist investor coordinated with Cloudflare CEO Matthew Prince, who has attempted to purchase the Park City resort.

Oasis Management and Matthew Prince have denied any coordination. The investor dropped the nominees to remove perceived connections to Prince and refocus the campaign on the alleged mismanagement of Vail Resorts and the necessity of board refreshment. Oasis Management stated it does not intend to sell any ski resorts.

Vail Resorts continues to question the independence of the campaign, suggesting the effort is a strategy to dismantle the resort network to facilitate an acquisition by Prince. A vote on the remaining nominees, which include a former Disney CEO, is scheduled for December.