Portland-based Vacasa (Nasdaq: VCSA) is shuffling executives once again with the exit of chief commercial officer Craig Smith.
Smith’s executive role ended Feb. 6, and his last day with the company is March 13, according to a regulatory filing with the Security and Exchange Commission. Smith joined Vacasa in 2021 as chief operating officer and last fall was installed as chief commercial officer.
As a result of this departure, the company is elevating the role of Chief Operating Officer John Banczak to one of the company’s principal executive positions. For regulatory purposes the top officers for the company are now CEO Rob Greyber, CFO Jamie Cohen and Banczak.
Banczak is considered the primary executive for operations.
Banczak, who is based in Austin, joined Vacasa in April 2021 through the acquisition of TurnKey, a company he co-founded and led. In October he was named COO. In this role he oversees field and central operating teams.
Vacasa is navigating a drive toward profitability that has included major changes at the company. The most significant was a 17% workforce reduction that cut 1,300 positions across its local operations and corporate teams. About 33 positions were eliminated in the Portland headquarters.
Vacasa’s business is vacation home rental management. Homeowners sign up with Vacasa to market and book their rental properties as well as manage them with maintenance, guest services and cleaning. That is accomplished with proprietary technology developed by the company to maximize rental rates and operations.
