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华尔街日报

鲍勃·查佩克作为维权人士提名的威尔董事会人选每月获10万美元Bob Chapek Is Getting $100,000 a Month as Activist’s Nominee for Vail Board

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鲍勃·查佩克,摄于2022年。Bob Chapek in 2022.

前迪士尼首席执行官鲍勃·查佩克(Bob Chapek)将以威尔度假村(Vail Resorts)董事提名人身份,每月获得10万美元报酬。

Former Disney CEO Bob Chapek is getting paid $100,000 a month as a nominee for the board of Vail Resorts.

这笔款项来自绿洲管理公司(Oasis Management),这家激进投资者以威尔为目标,推举查佩克作为其四名董事提名人之一。这家总部位于香港的激进投资者上周披露持有威尔9.6%的股份,并正在加大施压力度,要求威尔进行变革。

The payment comes from Oasis Management, an activist investor targeting Vail, which put Chapek forward as one of four nominees to the board of the ski behemoth. The Hong Kong-based activist disclosed a 9.6% stake in the company last week and is ramping up pressure on Vail to change.

绿洲还同意,如果查佩克当选进入公司董事会,将给予他一笔50万美元的免偿贷款,用于购买威尔股票。

Oasis also agreed to give Chapek a forgivable $500,000 loan to purchase Vail stock if he is elected to the company’s board.

董事会席位是绿洲此次运动的主要焦点。绿洲表示,威尔现任董事会未能追究公司估值缩水的责任。威尔度假村股价在五年内下跌了50%以上。

Board seats are the main focus of Oasis’s campaign thus far. Oasis says that Vail’s current board has failed to hold the company accountable for the erosion of its valuation. Vail Resorts stock has dropped by more than 50% over a five-year period.

绿洲在上周的一份证券文件中表示:“我们认为,威尔度假村的价值可能远高于其当前股价,现状难以为继,迫切需要变革,以解决公司长期存在的缺陷,恢复增长、盈利能力和信誉。”绿洲对此不予置评。

“We believe that Vail Resorts could be worth significantly more than its current stock price, that the status quo is untenable and that change is urgently needed to address the Company’s longstanding deficiencies and restore growth, profitability and credibility,” Oasis said in a securities filing last week. It didn’t have a comment.

除代理声明外,威尔不予置评。威尔表示,对其加强对滑雪者参与度和忠诚度关注所取得的早期进展感到鼓舞,同时也在改善山上餐饮、滑雪课程和租赁服务。7月,威尔增聘前美高梅国际酒店集团首席执行官比尔·霍恩巴克尔(Bill Hornbuckle)入董事会,以利用其酒店业经验。

Vail had no comment beyond its proxy filing. It has said it is encouraged by early progress from its increased focus on skier engagement and loyalty, and is also making improvements to on-mountain dining, ski lessons and rentals. In July, it added former MGM Resorts International Chief Executive Bill Hornbuckle to the board to draw from his hospitality experience.

查佩克拒绝置评,他在迪士尼工作近30年,担任首席执行官33个月后被罢免,前任鲍勃·艾格(Bob Iger)重新接任。

Chapek, who declined to comment, spent nearly 30 years at Disney, including 33 months as chief executive before he was ousted and his predecessor Bob Iger succeeded him.

根据威尔周一提交的一份证券文件,绿洲于2025年7月首次提出查佩克作为董事候选人,提到他在酒店业的经验。今年8月的一次晚餐上,绿洲创始人塞思·费舍尔(Seth Fischer)向威尔首席执行官罗布·卡茨(Rob Katz)提到了查佩克。

Oasis first floated Chapek as a board candidate in July 2025, noting his experience in the hospitality industry, according to a Monday securities filing from Vail. At a dinner this August, Oasis’s founder, Seth Fischer, brought up Chapek to Vail CEO Rob Katz.

据该公司在文件中披露,当时韦尔并不知情,查佩克已在 Oasis 的薪酬名单上。7 月 28 日,查佩克签署了一份咨询协议,为董事会在公司治理、运营和战略方面应采取的行动提供服务。该安排预计将持续到韦尔的年度股东大会,该会议尚未宣布召开日期。

Unbeknown to Vail at that point, the company said in its filing, Chapek was already on Oasis’s payroll. On July 28, Chapek entered the consulting agreement for services related to actions the board should take related to corporate governance, operations and strategy. This arrangement is slated to last through Vail’s annual meeting, which still hasn’t been announced.

8 月晚些时候,卡茨安排时间与查佩克进行视频会面。根据韦尔的文件,在通话中,这位前迪士尼首席执行官强调了他与韦尔业务及宾客体验战略相关的经验。他还提到,他的著作《城堡墙后》可能会引发争议。书中,他讲述了自己被解职的经过,并指责艾格破坏他的地位。

Later in August, Katz set up a time to meet with Chapek virtually. In the call, the former Disney chief executive highlighted his experience that was relevant to Vail’s business and guest experience strategy, Vail’s filing says. He also flagged that his book “Behind the Castle Walls” might be controversial. In the book, he writes about getting ousted as chief executive and accuses Iger of undermining him.

根据韦尔的文件,查佩克还告诉卡茨,他不想卷入一场行动主义之争。

Chapek also told Katz he didn’t want to be involved in an activist fight, according to Vail’s filing.

根据 Oasis 的文件,当卡茨给菲舍尔发邮件谈及此次会面时,卡茨写道:“进展顺利。他是个深思熟虑的人。”

When Katz emailed Fischer about the meeting, Katz said: “Went well. He is a thoughtful guy,” according to Oasis’s filing.

但韦尔表示,查佩克并未披露他与 Oasis 存在的付费咨询安排,也未披露那笔 50 万美元的免除贷款。

But Vail says that Chapek didn’t disclose the paid consulting arrangement he has with Oasis, or the $500,000 forgivable loan.

文件显示,其他 Oasis 提名的董事候选人各自获得了两笔一次性费用,每笔 5 万美元,前提是他们将税后收益投资于股票。

The other Oasis board nominees each received two, one-time fees of $50,000, so long as they invested the posttax proceeds in stock, the filings show.

韦尔建议其股东拒绝所有 Oasis 提名的候选人。具体就查佩克而言,公司表示其董事会担心查佩克未披露其与 Oasis 的财务协议,文件称这与他声称的不想卷入行动主义之争背道而驰。

Vail has recommended that its shareholders reject all of the Oasis candidates. Specifically related to Chapek, the company said its board had concerns that Chapek didn’t disclose his financial agreement with Oasis, which the filings says runs counter to his statement that he didn’t want to be involved in an activist fight.

迹象表明,韦尔将面临另一个充满挑战的冬季。该公司一直依赖在滑雪季前出售全通滑雪券的模式来帮助其度过艰难季节。但去年冬季,落基山脉创纪录的低降雪量使情况变得尤为困难。

Signs are pointing to another challenging winter ahead for Vail. The company has relied on a model of selling all-access passes ahead of the ski season to help it endure tough seasons. But last winter, with record-low snowfall in the Rockies, proved especially difficult.

Vail公司向投资者表示:截至9月18日,该公司在即将到来的北美滑雪季中售出的滑雪通行证数量比去年同期减少了12%。该公司强调将重点放在提升游客的体验上,包括提供山上的餐饮服务、租赁滑雪装备以及提供私人滑雪课程等。

Vail told investors it sold 12% fewer passes through Sept. 18 for the coming North American ski season, compared with the same period last year. It has emphasized a focus on a better guest experience, including on-mountain dining, gear rentals and private lessons.

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