Marriott Vacations Worldwide Announces Leadership Changes, Appoints Matthew E. Avril as Interim President and CEO (Form 8-K)

Marriott Vacations Worldwide Announces Leadership Changes, Appoints Matthew E. Avril as Interim President and CEO

Board of Directors Commences Search for Permanent Successor

ORLANDO, Fla. - November 10, 2025 - Marriott Vacations Worldwide (NYSE: VAC) ("MVW," "the Company," "we," "us" or "our") today announced that its Board of Directors has appointed Matthew (Matt) E. Avril, an independent director of MVW, as Interim President and Chief Executive Officer, effective immediately. This appointment follows John Geller's departure as President and CEO of MVW and as a director of the Company. The Company's Board of Directors has commenced a search for a permanent President and CEO.

"In his short tenure on our Board, Matt has added strategic value to the Company and has served as a knowledgeable contributor to the Board. We are grateful that he has agreed to step into this role at a critical time," said Bill Shaw, chairman of MVW's Board of Directors. "With decades of operational and leadership experience at top vacation ownership and hospitality brands, we are confident Matt has the right depth of experience to work alongside our experienced management team to help improve our performance. I am confident he will bring a sense of urgency to the business and put us on the right path to restore shareholder value."

Mr. Avril joined MVW's Board of Directors in March 2025. He has more than 30 years of experience in the hospitality and vacation ownership industry, most recently serving as Chief Executive Officer of Diamond Resorts International, Inc., a leading hospitality and vacation ownership company. Prior to that, he was Chief Executive Officer-elect for Vistana Signature Experiences, Inc., a vacation ownership business, after his retirement as President, Hotel Group, for Starwood Hotels & Resorts Worldwide, Inc., a publicly traded hotel and leisure company.

Mr. Avril said, "I recognize that this is a critical time for the Company. The resilience of our business, strength of our brands, and depth of our management team all reinforce the strong future MVW has ahead of it. We must execute in order to deliver results, and I am committed to working closely with the Board and management team to create immediate shareholder value."

Mr. Shaw adds, "I want to thank John for his years of dedication and service to this Company. We appreciate his leadership in guiding the organization through its transformation over the years."

The Board of Directors and management believe the Company's shares are undervalued, and the Company intends to opportunistically repurchase shares under its remaining $347 million Share Repurchase Program during the quarter.

The Company is reaffirming its 2025 guidance issued on November 5, 2025. In addition, the Company is postponing its planned Investor Day that was scheduled to be held on December 17 until further notice.

About Marriott Vacations Worldwide Corporation

Marriott Vacations Worldwide Corporation is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products, and services. The Company has 120 vacation ownership resorts and approximately 700,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and provides management services to other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International, Inc. and an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com.

The Company routinely posts important information, including news releases, announcements and other statements about its business and results of operations, that may be deemed material to investors on the Investor Relations section of the Company's website, www.marriottvacationsworldwide.com. The Company uses its website as a means of disclosing material, nonpublic information and for complying with the Company's disclosure obligations under Regulation FD. Investors should monitor the Investor Relations section of the Company's website in addition to following the Company's press releases, filings with the SEC, public conference calls and webcasts.

Note on forward-looking statements