been president of the mountains ski resort for more than a decade, said in an interview that the new owners initial investment had exceeded $70 million. The ownership group is led by Sandy Beall, founder of the restaurant chain Ruby Tuesday, and Webb Wilson, an heir to the Holiday Inn fortune.
/quotes/zigman/159336/quotes/nls/rt RT +1.32% said its chairman and chief executive Sandy Beall plans to step down and said a committee has been formed to identify a sucessor.
The company has no replacement for Sandy Beall, but will begin a search for his successor immediately with the help of an executive search firm. Beall says he will stay on as CEO, president and chairman until the board finds the right candidate.