Vacation rental management platform Vacasa (Nasdaq: VCSA) is shuffling its executive team just weeks after the installation of new CEO Rob Greyber.
In regulatory filings the company said Chief Product Officer Michael Xenakis is leaving the company at the end of October and Chief Revenue Officer Michael Dodson is leaving in early November. Both executives were based in San Francisco.
At the same time, executives Craig Smith and John Banczak are moving into new roles, according to the same filing.
Smith, who was previously chief operating officer, is moving to the role of chief commercial officer. In this role, Smith will take on the responsibilities that were under the chief revenue officer. Smith joined the company as COO in 2021, he was previously an executive at home services company Angi Inc (Nasdaq: ANGI). He is based in Denver.
Banczak, who was previously chief strategy officer is moving into the position of COO effective immediately. In this role, Banczak will oversee field and central operations teams, according to the filing. Banczak joined Vacasa in 2021 through the acquisition of Austin-based TurnKey. He is based in Austin.
Greyber is taking over the chief product officer role on an interim basis.
Greyber took over the CEO role Sept. 6. He was named to the position in August to replace Matt Roberts, who was a Vacasa board member that had initially moved into the role on an interim basis succeeding founder Eric Breon. Roberts took over permanently and led the company through a SPAC merger IPO last year. Greyber is based in Seattle but is frequently at the Portland headquarters.
The company reported strong second quarter results August 10. It reported revenue of $310 million, up 31% year-over-year. It swung to a profit on the quarter both compared to the first quarter and compared to the second quarter a year ago. Vacasa had net income of $9.9 million for the quarter, compared to a loss of $19.9 million in the second quarter a year ago. It also raised its full year guidance to between $1.17 billion to $1.19 billion, citing strong guest demand.
Homeowners sign up with Vacasa to market and book their rental properties as well as manage them with maintenance, guest services and cleaning. The company has more than 35,000 homes in its portfolio across 400 destinations in North America, Belize and Costa Rica. Its homes can be found on other platforms as well including Airbnb, Booking.com and Vrbo.
