Les Otten

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Les Otten is the former (2002-07) vice chairman and a minority partner of the Boston Red Sox American Major League Baseball franchise, but he is probably best known for his career in the skiing industry.

Otten graduated from Ithaca College School of Business in 1971, after which he worked for Killington and Sunday River ski resorts. In 1980 he purchased Sunday River, and his company, LBO Resort Enterprises, grew by acquiring Sugarbush, Attitash Bear Peak, and Cranmore. In 1995 he formed American Skiing Company by acquiring S-K-I, and this expanded his resorts to include Killington, Mount Snow, Haystack, Waterville Valley, and Sugarloaf/USA. He was forced to divest his interests in Waterville Valley and Cranmore but went on to buy Pico Peak in Vermont.

Under Otten, American Skiing Company invested heavily in marketing and infrastructure. While these investments are credited with major turnaround and growth, they overleveraged the company. A later bailout by an investment firm ultimately caused him to leave day to day operations while remaining on the Board of Directors. Otten resigned this position on February 26, 2007, effective immediately, to pursue other options. Boston.com reported "I leave the board with mixed feelings," Otten said. "It's been a pleasure to serve and help guide the Company and I wish everyone well. I truly enjoyed my tenure with the board, but now it's time to look at other options."

Les Otten is currently involved in a number of ventures including Mall Networks (provides online shopping for loyalty programs) and Sports Vision Technologies (produces P3ProSwing, a golf swing analyzer and golf simulator). He is current board chairman for The Jeremiah Cromwell Disabilities Center.

[edit] References

http://www.ithaca.edu/icq/1997v1/mainmtn.htm
http://www.ithaca.edu/icq/2004v4/an/leaveit.htm
http://www.fundinguniverse.com/company-histories/American-Skiing-Company-Company-History.html