Marriott Vacations Worldwide Corp ( VAC ) said Monday that its board has appointed independent director Matthew E. Avril as interim President and Chief Executive Officer, effective immediately.

The move follows the departure of John Geller, who stepped down as President and CEO of MVW and resigned from the board. The company said its board has initiated a formal search for a permanent chief executive.

Avril joined the board in March 2025 and brings more than three decades of experience in the hospitality and vacation ownership sectors.

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He previously served as chief executive officer of Diamond Resorts International Inc. and was CEO-elect of Vistana Signature Experiences Inc.

Share Buyback Plans

The board and management reiterated that they view the company’s shares as undervalued and intend to take advantage of current market conditions by repurchasing stock under the remaining $347 million authorization during the current quarter.

Management Commentary

“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,” Avril said.

Bill Shaw, chairman of MVW’s Board of Directors, added, “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.”

Q3 Earnings and Outlook

Last week, Marriott Vacations Worldwide ( VAC ) reported third-quarter earnings of $1.69 per share, exceeding analysts’ consensus estimate of $1.62. Revenue totaled $1.26 billion, below expectations of $1.31 billion.

The company reaffirmed its 2025 adjusted earnings guidance, tightening the range to $6.70–$7.10 per share from the prior $6.40–$7.10. The outlook compares with a $6.77 analyst estimate. MVW also postponed its planned Investor Day, originally scheduled for Dec. 17, until further notice.

Price Action: VAC shares were trading higher by 5.67% to $49.83 at last check Monday.

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