Viad Corp Appoints New CFO Michael Heitz Amid Strategic Transition for Pursuit
- Michael “Bo” Heitz will become Viad's CFO in March 2025, succeeding Ellen Ingersoll after her 22-year tenure.
- Pursuit is preparing for independence as a public company post-GES business divestiture, enhancing Viad's operational focus.
- Heitz aims to drive Pursuit's growth strategy in attractions and hospitality, leveraging his extensive industry experience.
Viad Corp Announces Strategic Leadership Change with New CFO Appointment
Viad Corp (NYSE: VVI) is set to enhance its financial leadership with the announcement that Michael “Bo” Heitz will assume the position of Chief Financial Officer (CFO) in March 2025. Heitz, who joined the company on December 16, 2024, will operate from Pursuit’s Denver office, closely collaborating with David Barry, the President of Pursuit and incoming CEO. This leadership shift is particularly significant as Pursuit prepares to become a standalone public company, following Viad’s divestiture of its GES business. Ellen Ingersoll, who has served as CFO since 2002, will remain in her role until the completion of Viad's Form 10-K filing for 2024, ensuring a seamless transition for Heitz.
The transition to Heitz as CFO comes at a pivotal moment for Pursuit, which is anticipating its launch as an independent publicly traded entity after the sale of its GES business, expected to finalize on December 31, 2024. Under Heitz's financial stewardship, Pursuit aims to leverage its newly attained financial flexibility to implement its Refresh, Build, Buy growth strategy. This strategy is designed to capitalize on significant opportunities within the attractions and hospitality sectors, positioning Pursuit to thrive as a high-growth, high-return business. Heitz’s extensive background in the leisure and hospitality industry, including a decade at Vail Resorts, equips him with the necessary insights to drive Pursuit's strategic initiatives.
Viad’s President and CEO, Steve Moster, commends Ingersoll for her transformative leadership over the past 22 years, particularly during a period of notable change for the company. As Pursuit transitions into its new phase, Heitz’s experience is expected to play a crucial role in navigating the challenges and opportunities that lie ahead. David Barry has expressed confidence in Heitz's ability to enhance Pursuit's financial strategy, thereby enabling the company to maximize its potential as it continues to evolve in the competitive landscape of attractions and hospitality.
In addition to the leadership change, the anticipated divestiture of the GES business marks a significant shift in Viad's operational focus. This strategic move not only paves the way for Pursuit's independence but also allows Viad to concentrate its resources on core business areas that promise robust growth. The decision reflects Viad's commitment to refining its business model and enhancing value for stakeholders as the company navigates an ever-changing market environment.