Thunderbird Resorts Inc. announced that Reto Stadelmann has resigned his position as a board member effective February 15, 2016. Mr. Stadelmann will focus now on his own personal and business related endeavors. In order for the company's board to continue maintaining independence, the company has accepted Albert W. Atallah's resignation as a director effective February 15, 2016.

Mr. Atallah will remain as General Counsel. The Company's three-member board will now consist of two independent board members, Doug Vicari and George Gruenberg. Salomon Guggenheim will continue his tenure as President, CEO and Chairman of the Board.