Intrawest ULC announced Friday the appointment of Michael Forsayeth as the company's new chief financial officer.
Forsayeth will assume worldwide responsibility for Intrawest's financial operations and he will report directly to Alex Wasilov, president and chief operating officer at Intrawest.
Forsayeth has more than 30 years of experience with both private and public businesses “and a demonstrated track record of implementing the financial strategies, systems and the infrastructure to improve the financial performance and operations of large multi-national organizations,” according to a press release.
“We are extremely pleased to welcome Michael to Intrawest's executive team,” said Alex Wasilov, president and chief operating officer at Intrawest. "He brings a broad base of financial experience and global expertise to Intrawest, as well as a solid reputation among the financial community and a deep understanding of Intrawest's business. I am confident that Michael will drive our unrelenting focus on building value for Intrawest's shareholders."
Prior to joining Intrawest Forsayeth spent eight years as chief financial officer for Cara Operations Ltd., the largest operator of full service restaurants in Canada and a leader in the airline catering, foodservice distribution and travel concession industries. During his tenure, Forsayeth led and financially engineered all aspects of the business, including Cara's privatization transaction that came to a successful completion in February 2004.
Previous career experience included roles at Laidlaw International, Inc., a multi-billion dollar North American company where he was chief financial officer and senior vice president of its Passenger Services Group, North America's largest provider of school bus and public transit services. He also served as president of Greyhound Canada, a Laidlaw-owned company, and Laidlaw's Transit and Tour business.
Forsayeth earned a Bachelor of Commerce degree with honors from Queen's University in Ontario, and is a Chartered Accountant. He will be located in Intrawest's head office in Vancouver effective June 11, 2007.