Riley Moves to New Position as CEO of Newport Federal Financial
by Gus Jarvis
Aug 08, 2012 | 8435 views | 3 3 comments | 28 28 recommendations | email to a friend | print
FORMER Telluride Ski and Golf Co. Chief Executive Officer Dave Riley has been been reassigned as CEO of Newport Federal Financial, Telski’s parent company in Newport Beach, Calif. (File photo)
FORMER Telluride Ski and Golf Co. Chief Executive Officer Dave Riley has been been reassigned as CEO of Newport Federal Financial, Telski’s parent company in Newport Beach, Calif. (File photo)
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Will Continue to Advise Telski Owner Chuck Horning



TELLURIDE
– Chuck Horning, owner of Telluride Ski and Golf Co., announced late Wednesday that Dave Riley, CEO of the Telluride Ski and Golf Co., has been reassigned as CEO of Newport Federal Financial, Telski’s parent company in Newport Beach, Calif.

Telski officials announced the news just after Outside magazine published a report earlier in the day that Riley was out, following weeks of rumors that Riley had been fired.

Riley will start immediately as the new CEO of Newport Federal Financial, where his work will include acquisitions, strategic initiatives, master planning, development, and transactions involving commercial properties, multi-family properties, resort properties, office complexes, ranches and raw land. 

Riley will be based out of the Newport office and will travel extensively in the new position.

“Dave Riley has a keen eye for new opportunities, and is visionary when it comes to planning, growth and expansion initiatives,” Horning stated in an email. “I’m excited to work with him in this capacity at Newport Federal Financial.”

Riley will continue to advise Horning on Telski matters as required, but will primarily be pursuing new projects across North America and Hawaii.

“I’m very excited about the opportunity to seek out new acquisition and development projects for Newport Federal Financial,” said Riley. “This is a good time to be in the market for acquisitions.”

Despite criticism from some quarters for his strongly assertive management style, Riley’s accomplishments during his tenure have helped raise the profile of the Telluride Ski Area to that of an elite skiing and snowboarding destination in North America. A year after coming onboard, Riley moved aggressively to open new terrain, announcing the opening of Black Iron Bowl, expanding access to Palmyra Peak, the Gold Hill Chutes and the opening of Revelation Bowl, serviced by the new Revelation Lift.

The greatly expanded terrain earned Telluride accolades from national publications, including an impressive 12-page spread in the October 2010 issue of Powder magazine.

“One thing is for certain,” wrote Powder contributor Porter Fox. “The Telluride of 2010 is skiing like the biggest of America’s big mountains. And if things go according to plan, it may soon be the greatest backcountry ski resort in the country.”

Riley leaves his post in the midst of a lengthy ski area master plan update that will shape how the ski area will look in years to come.

It was also during Riley’s tenure that the LG FIS Snowboard World Cup, a nationally televised event, found a home in Telluride.

“I’ve had the opportunity to work with Dave as long as he has been out here and what he has accomplished for the ski area has been extremely positive,” Mayor Stu Fraser said. “He has made an effort to create more runs, more challenging runs and opened up more extreme skiing for the area. He also added amenities he felt were needed, and I think the guests have responded quite well to them. He’s also had success in improving operations up there; virtually everyone would say the grooming up there was excellent, even in an off snow year.”

Riley also found himself in the middle of several controversial issues including the now-stalled Lift 7 Subarea Master Plan process, disputed skier access to Bear Creek, a legal dispute with the Gold Hill Development Company over access rights on Gold Hill Road, which crosses popular ski area trails, and holding discussions with the Town of Telluride over ski area improvements on its north side. 

“I worked well with him and he was always available to work with us,” Fraser said. 

“I wish we could have accomplished something on the north side.”

gjarvis@watchnewspapers.com or @GusJarvis

Comments
(3)
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FaceOnMars
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August 10, 2012
I suppose we'll have to wait to see if any more cards will be revealed, but as far as I'm concerned ... as long as Riley's relationship with Telski isn't completely severed, there will always be questions about what is truly going on behind the scenes.
Matthew4u
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August 19, 2012
Hi Mr. Face, there is not much going on behind the scenes, it is all pretty transparent, no magic to it, give Dave a call.
ResponsibleFreePress
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August 08, 2012
Well, everyone knew this was coming...

Too bad that Dave is leaving skiing - this is where his passion is and what he did great with..new approved area expansions..the record is clear that he simply developed a master plan on the books when he arrived but he was the one that got it done...

In my opinion, Dave really struggled in the people department..failing to build community consensus by strings of missteps..like firing the lifties and the FDR stickers, like the Lift 7 fiasco, like the Bear Creek land owners, like the non-TSG community members who found themselves competing against new restaurants, new buckle stores, new outdoor adventure operations..

This M and A business ..for this financial corporation..I dont get how Dave will succeed here..two big expansions he missed were the failed Peaks purchase and it is now a cold bed sales facility (but a great one)..the guys who bought this were real players and not wannabes..and the Bear Creek fiasco..what a disaster from start to finish...maybe I am wrong, Horning knows Dave better than I do..we only skied together a few times on Relevation in the winter mid day sun..and we had wine at Alpino Vino...a few times..

Google Newport Federal Financial and see the Los Angeles Times story from 2002...this is the only information I can find on this company....this must be some type of mistake..

Anyhow, Dave, it was. Bye.

Lets hope that TSG brings on a consensus builder, someone who knows the power of the ski company in building the local economy, someone who loves skiing as much as Dave, someone who will bridge the gaps between our local interest groups..

Godspeed Chuck!