On Thursday, June 7, Powdr announced key changes to its executive team, including that John Cumming, founder and chairman, will step down as CEO. Powdr is Killington Resort and Pico Mountain’s parent company.
Stepping up are Wade Martin, who has served as president of Powdr Enterprises and chief revenue officer for the last five years, and Justin Sibley, who has served as chief financial officer for the past four years; they will serve as co-presidents. Powdr also promoted Tim Brennwald, who previously served as chief operating officer of Powdr resorts, to chief operating officer of Powdr.
Cumming, who founded the independent, family-owned and operated Powdr nearly 25 years ago, will remain involved in shaping the company’s strategy and vision while he focuses on his ongoing and increased roles as chairman at American Investment Company, Snowbird, Crimson and The Cumming Foundation.
“Wade and Justin have been great partners and leaders over the recent years, building a strong team, helping to diversify and integrate our portfolio, refining our strategy to be the best version of ourselves locally at our resorts and camps, and accelerating our long-term vision,” said John Cumming. “Tim has served Powdr in many capacities for 10 years, and I am confident in his ability to continue to elevate the guest experience and align our Woodward and resort operations.”
“Powdr has established phenomenal adventure lifestyle offerings and the enduring values John set forth when he founded the company remain our beacon,” said Wade Martin. “These new roles are a natural continuation and elevation of Justin’s and my existing partnership. Our skill sets are complementary, and I look forward to working with Justin and the teams across Powdr in this new capacity.”
In their joint role, Martin and Sibley will have shared responsibilities around strategy, structure and capital allocation, and Martin will lead organic growth while Sibley will lead operations and portfolio expansion.
“Powdr is focused on diversifying and elevating the experiences we offer our guests,” said Justin Sibley. “Aligning Woodward with our resort operations will introduce Woodward’s globally recognized brand and iconic youth culture to more kids and families worldwide.”
The changes to Powdr’s executive team were effective immediately.
Powdr has nine mountain resorts in its portfolio including Copper Mountain and Eldora Mountain Resort in Colorado; Killington and Pico Mountain in Vermont; Boreal Mountain Resort and Soda Springs in the Lake Tahoe, California; Mt. Bachelor in Oregon; Lee Canyon in Nevada; and Gorgoza Park in Park City. Powdr had owned Park City Mountain Resort before Vail Resorts acquired the resort in 2014.
Powdr also owns Woodward camps located in Pennsylvania, Copper Mountain, Colo., Lake Tahoe, Cali., Stallion Springs, Cali., and Mexico. Additionally, Powdr owns Human Movement Inc., which produces events, Outside Television, and Sun Country Tours, a river rafting outfitter in Oregon.
Powdr is headquartered in Park City, Utah with offices in Louisville, Colo. For more information visit www.Powdr.com.
