New board observer brings strong public-company experience in technology-enabled hospitality, distributed operations and public affairs
PORTLAND, Ore., October 19, 2022 — Vacasa (Nasdaq: VCSA), North America’s leading vacation rental management platform, today announced that Rachel Gonzalez, former Starbucks Corporation (Nasdaq: SBUX) General Counsel, has been engaged by the Company to serve as an observer on its Board of Directors. The Company intends to seek stockholder approval to expand the size of its board and to elect Gonzalez as an independent director at the 2023 annual meeting of stockholders.
“We’re thrilled for Rachel to be a board observer, and welcome her deep strategic insights. Her public company leadership experience across industries from travel technology to retail service closely aligns with our focus on driving stockholder value through growth and innovation, while still delivering on our high standards for service and hospitality,” said Rob Greyber, CEO of Vacasa. “Rachel will be a strong contributor with expertise across a broad range of legal affairs, compliance and business operations, as well as a specific track record of helping companies deliver technology-enabled experiences across vast geographies.”
From 2014-2018, Gonzalez served as General Counsel and then Chief Administrative Officer of Sabre Corporation (Nasdaq: SABR), a global travel software and technology provider, where she oversaw multiple departments including human resources, corporate communications, legal strategy, regulatory and government affairs, and compliance. She most recently served as Executive Vice President and General Counsel of Starbucks Corporation, where she navigated the operational complexities of a high-touch, consumer-facing business by helping build and deliver digital engagements.
“Rachel’s considerable experience scaling global, public brands through technology-enabled service will be a strong asset to the Vacasa board. We believe Rachel’s added guidance will help continue to fuel Vacasa’s growth and industry leadership,” said Joerg Adams, Managing Director of Silver Lake and Chair of Vacasa’s Nominating and Corporate Governance Committee, which led the search process.
“This is an exciting time to join Vacasa, particularly as vacation rentals have emerged as a mainstream and often preferred accommodation,” said Gonzalez. “I look forward to working with the board and leadership team to help scale its technology-enabled service, and enhance Vacasa’s commitment and initiatives to building healthy, vibrant and diverse communities that are welcoming to all.”
About Rachel Gonzalez
Rachel Gonzalez served as Executive Vice President and General Counsel of Starbucks Corporation, where she supported the Board of Directors and oversaw the Law & Corporate Affairs department. Prior to Starbucks, Gonzalez held multiple leadership positions with Sabre Corporation, ultimately being named Chief Administrative Officer and helping the company expand its travel technology solutions. She currently sits on the Board of Directors of Electronic Arts Inc. (Nasdaq: EA), serving as a member of its nominating and governance committee. Gonzalez earned her bachelor’s degree in Honors Comparative Literature from the University of California, Berkeley, and her law degree from Berkeley School of Law at the University of California, Berkeley.
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company’s unmatched technology that adjusts rates in real time to maximize revenue. Guests can relax comfortably in Vacasa’s 35,000+ homes across more than 400 destinations in North America, Belize and Costa Rica, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on Vacasa.com and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, Booking.com and Vrbo.
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Certain statements made in this press release are considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect Vacasa’s current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements.
Due to known and unknown risks, actual results may differ materially from Vacasa’s expectations and projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: Vacasa’s ability to achieve profitability; Vacasa’s ability to manage and sustain its growth; the effects of the coronavirus (COVID-19) pandemic, including as a result of new strains or variants of the virus, on Vacasa’s business, the travel industry, travel trends, and the global economy generally; the effects of global economic and capital markets conditions, such as rising energy prices, inflation and interest rates, on Vacasa’s business, the travel industry, travel trends, and the global economy generally; Vacasa’s expectations regarding its financial performance, including its revenue, costs, and Adjusted EBITDA; Vacasa’s ability to attract and retain homeowners and guests; Vacasa’s ability to compete in its industry; Vacasa’s expectations regarding the resilience of its model, including in areas such as domestic travel, short-distance travel, and travel outside of top cities; and other risks and uncertainties described under the heading “Risk Factors” of Vacasa’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, as any such factors may be updated by its other reports filed with the SEC, which are accessible on the SEC’s website at www.sec.gov and the investors section of Vacasa’s website at investors.vacasa.com.
All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Vacasa has no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
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