American Skiing Company (ASC) announced the resignation
of CFO THOMAS RICHARDSON. Richardson moves to ASC's
Sugarbush, VT, affil where he will serve as Managing Dir.
ASC CAO CHRISTOPHER HOWARD will assume the CFO position in
the interim. ASC has retained the firm of HEIDRICK AND
STRUGGLES to conduct a CFO search (ASC). In ME, Dean Lunt
reported that an analyst said ASC hopes to fill Richardson's
position in 60 to 90 days. ASC spokesperson SKIP KING said
that Richardson's move "reflects a recognition" by him and
the company "that his strongest skills are on the operations
side." Bear, Stearns & Co. analyst CHRISTINE LUMPKINS said
that the move is "part of the growing pains for a company
that is learning the ropes of being a public company and has
made some miscues in managing the expectations of Wall
Street." Those "mistakes are reflected in the company's
stock price," which stood at $9.125 on Monday after opening
at $18 in its IPO. Lumpkins: "They really need someone who
has experience dealing with the public markets and working
in the public arena" (PORTLAND PRESS HERALD, 8/25).
