Cumming Steps Down as Powdr Chief, Co-Presidents Named

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07 June 2018

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SAM Magazine—Park City, Utah, June 7, 2018—Powdr is shaking up its executive group, starting at the top. The company's founder and chairman John Cumming, has stepped down as CEO, making way HN johncummingpowdr 6718 for Wade Martin and Justin Sibley, who will serve as co-presidents. Tim Brennewald has been promoted to chief operating officer of Powdr. All moves are effective immediately.

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 Resort in Utah, Crimson, and The Cumming Foundation.

Martin served as president of Powdr Enterprises and chief revenue officer for the last five years. Sibley served as chief financial officer for the past four years. And Brennwald’s previous position was chief operating officer of Powdr resorts.

“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 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.”

In their joint role, Martin and Sibley will have shared responsibilities around strategy, structure, and capital allocation. Martin will lead organic growth, while Sibley will lead operations and portfolio expansion.

“The enduring values John set forth when he founded the company remain our beacon,” said Martin. “These new roles are a natural continuation and elevation of Justin’s and my existing partnership.”

“POWDR is focused on diversifying and elevating the experiences we offer,” said Sibley. “Aligning Woodward with our resort operations will introduce Woodward’s globally recognized brand and iconic youth culture to more kids and families worldwide.”