NEW TEAM MEMBERS APPOINTED TO SQUAW VALLEY
SENIOR MANAGEMENT TEAM

Squaw Valley USA is proud to announce the appointment of Heath Nielsen as the new VP of Commercial and Hospitality Operations and Monty Waugh as the company's new CFO



[Squaw Valley USA] December 2, 2010 – Squaw Valley USA is proud to announce the addition of two new team members to the company’s senior management team. Heath Nielsen will be joining the team as Vice President of Commercial and Hospitality Operations, and Monty Waugh will be coming on board as Chief Financial Officer. Both Waugh and Nielson have extensive experience in resort operations.


“We are thrilled to welcome Heath and Monty to Squaw Valley USA," said Andy Wirth, Squaw Valley’s CEO. “These are transformative times for the resort, and Heath and Monty will be making significant contributions towards positioning Squaw Valley as one of the top ski resorts in North America.”

As Squaw Valley’s new Vice President of Commercial and Hospitality Operations, Heath Nielsen will oversee all aspects of the company’s hospitality holdings including The Village at Squaw Valley USA and all conference services. Nielsen will also oversee all aspects of the company’s Culinary Services department as well as all retail, rental and locker-room services and operations.

Nielsen joins the Squaw Valley team with 19 years of experience in the retail, resort and hospitality industries. Most recently, Nielsen served as Vice President of Operations and Commercial Properties for Northstar-at-Tahoe Resort. He was responsible for the development and operations of the Village at Northstar and the revenue centers for Northstar-at-Tahoe Resort.

Prior to Northstar-at-Tahoe Resort and the Village at Northstar, Nielsen was the Director of Business Operations for Sony Corporation of America where he led the expansion of the Sony Style flagship stores for North America. Nielsen was on the opening team of Metreon, the world’s first Urban Entertainment Center for Sony in San Francisco.

Nielsen also held positions as Regional Director for Vail Resorts, operating all retail and rental operations for Breckenridge, Keystone, Beaver Creek and Vail as well as General Manager-Market Manager for Old Navy, Gap Inc. where he was one of the first dozen employees hired to launch Old Navy’s concept nationally.

Nielsen grew up in the Midwest and began his career in the US Army where he served 6 years with the 10th Mountain Division as a squad leader. Nielsen has three daughters, Kristina, Isabella and Emma and a wife, Christy.


Monty Waugh joins the Squaw Valley team with over 10 years of finance and accounting experience in ski resort operations and resort real estate development. As Squaw Valley’s new Chief Financial Officer, Waugh will oversee all aspects of the company’s accounting and financial operations.

Most recently, Waugh was the Vice President of Accounting and Finance for Booth Creek Ski Holdings, Inc. and Northstar-at-Tahoe. During his tenure, Waugh oversaw all of the financial aspects of the company as well as significant on-mountain and base facilities expansion at Northstar-at-Tahoe.

Prior to Northstar-at-Tahoe, Waugh was the Regional Controller for Intrawest’s west coast real estate development group, which included the Intrawest real estate development at Squaw Valley USA. Prior to Intrawest, Waugh worked as an auditor for Ernst & Young, where he gained his CPA license. Waugh, his wife Clarissa and children Dale and Kaitlyn, have been living in Truckee for the past six years. They are avid skiers and snowboarders and also partake in many other recreational activities in the Tahoe area.

Heath Nielsen and Monty Waugh’s appointments come just a week after the announcement of Squaw Valley’s acquisition by KSL Capital Partners who have promised to invest $50 million dollars in the Lake Tahoe resort over the next three to five years.

“Heath and Monty will be welcome additions to our high performance team,” continued Wirth. “Their arrival is one more piece of the new era that we are ushering in here at Squaw Valley USA.”