Marriott Vacations CEO Geller resigns at board request; Avril named interim CEO

MARRIOTT VACATIONS WORLDWIDE Corp

John Geller resigned as President/CEO and director at board's request effective Nov 10; not due to disagreement.
Separation includes $5M severance (2x salary+bonus) plus $1.29M prorated bonus, restrictive covenants.
Board appointed Matthew Avril as Interim President/CEO; base salary $1M/yr plus equity (SARs 100k shares, RSUs 50k shares).
Company reaffirms 2025 guidance issued Nov 5; postpones Dec 17 Investor Day indefinitely.
Company intends to repurchase shares opportunistically under remaining $347M buyback authorization.

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