Viad Corp issues statement on health of Pursuit chairman

SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Viad Corp (NYSE: VVI), a leading global provider of extraordinary experiences, including hospitality and leisure, experiential marketing and live events, today announced that David Barry, president of its Pursuit business, has been diagnosed with a medical condition that will require surgical treatment and temporary furlough that could span several months. The timing of David’s sick leave has not yet been determined.

When David begins his sick leave, Chief Executive Officer of Pursuit will transfer, on an interim basis, to Derek Linde who will act as Acting President of Pursuit while retaining his current role as Chief Operating Officer, General Counsel and Corporate Secretary. of Viad. Additionally, Sam Auck, Chief Financial Officer of Pursuit, will take on a broader role by partnering with all of Pursuit’s senior executives to maintain the continuity of day-to-day operations, reporting to Derek.

David continues to run the Pursuit business and will do so until he takes a leave of absence, and works closely with Derek, Sam and the senior Pursuit team to ensure business continuity.

Steve Moster, President and CEO of Viad, said, “We will support David every step of the way and salute his commitment to the continued success of Pursuit and the anticipated return. Derek has worked with David, Sam and the Pursuit management team over the past few years to support Pursuit’s growth initiatives and in his interim role he will focus on continuing Pursuit’s Refresh, Build, Buy strategy. during David’s temporary absence. The Board and I are fully confident that Derek and Pursuit’s excellent team of operational and functional leaders are well positioned to lead when the time is right.

David commented: “Pursuit continues to recover strongly from the pandemic. I am committed to leading Pursuit’s exciting growth trajectory until my leave and returning to my role after my leave. I have complete faith and confidence that the talented leadership team at Pursuit, under the leadership of Derek and Sam, will continue to successfully execute our exciting growth strategy and deliver unforgettable experiences for our guests when I will start my temporary leave.

About Viad

Viad (NYSE: VVI) is a leading global provider of extraordinary experiences, including hospitality and leisure, experiential marketing and live events through two businesses: Pursuit and GES. Our business strategy is focused on delivering extraordinary experiences for our teams, customers and guests, as well as meaningful and sustainable growth and above-market returns for our shareholders. Viad is an S&P SmallCap 600 company.

Pursuit is a collection of inspiring and unforgettable travel experiences in Alaska, Montana, the Canadian Rockies, Vancouver, Reykjavik and Las Vegas, plus new experiences planned for Chicago and Toronto. Pursuit’s collection includes attractions, lodges and hotels, as well as guided tours that connect guests to iconic locations.

GES is a full-service global live events company providing a full suite of services to the world’s leading brands and event organizers through two reportable segments, Spiro and GES Exhibitions. Spiro is an experiential marketing agency that partners with leading brands around the world to manage and elevate their global experiential marketing businesses. GES Exhibitions is a global exhibition services company that partners with leading exhibition and conference organizers as a full-service provider of strategic and logistical solutions to manage the complexity of their shows with teams across North America , Europe and the Middle East.

For more information, visit www.viad.com.

Forward-looking statements

This press release contains a number of forward-looking statements. Words and variations of words, such as “will”, “may”, “expect”, “could”, “could”, “could”, “intend”, “plan”, “believe” , “estimate”, “anticipate”, “provide”, “seek”, “aim”, “potential”, “target”, “outlook” and similar expressions are intended to identify our forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. These forward-looking statements are not historical facts and are subject to a host of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those in the forward-looking statements.

Important factors that could cause actual results to differ materially from those described in our forward-looking statements include, but are not limited to, the following:

  • the impact of the COVID-19 pandemic on our financial condition, liquidity and cash flows;

  • our ability to anticipate and adapt to the impact of the COVID-19 pandemic on our business;

  • general economic uncertainty in major world markets and worsening global economic conditions;

  • travel industry disruptions;

  • the seasonality of our business;

  • unforeseen delays and cost overruns of our capital projects, and our ability to achieve financial and strategic objectives established for such projects;

  • our exposure to labor shortages, employee turnover and labor cost increases;

  • the importance of key members of our account teams to our business relationships;

  • the competitive nature of the industries in which we operate;

  • our dependence on large exhibition event clients;

  • the negative effects of show rotation on our period results and operating margins;

  • transportation disruptions and increased transportation costs;

  • natural disasters, weather conditions, accidents and other catastrophic events;

  • our exposure to increases in labor costs and work stoppages related to unionized employees;

  • our multi-employer pension plan funding obligations;

  • our ability to successfully integrate and achieve financial and strategic objectives established from acquisitions;

  • our exposure to cybersecurity attacks and threats;

  • our exposure to fluctuations in currency exchange rates;

  • liabilities related to prior and discontinued operations; and

  • compliance with laws governing the storage, collection, processing and transfer of personal data and our exposure to legal action and fines for data breach or improper processing of such data.

For a more complete discussion of the risks and uncertainties that could affect our business or financial results, please see Section 1A, “Risk Factors,” of our most recent Annual Report on Form 10-K filed with the SEC. We disclaim and undertake no obligation to update or revise any forward-looking statement contained in this press release, except as required by applicable law or regulation.

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