Marriott Worldwide Broadcasts Management Shakeup

Marriott Worldwide, Inc. introduced J.W. Marriott, Jr. plans to retire as Govt Chairman in Might and won’t stand for re-election to the Board of Administrators on the upcoming Annual Assembly of Stockholders.

After greater than 60 years of management, David S. Marriott will succeed as Chairman of the Board, efficient instantly following the annual assembly. Firm officers additionally voted to designate J.W. Marriott, Jr. as Chairman Emeritus, efficient instantly.

J.W. Marriott, Jr. grew to become President of the corporate in 1964 and Chief Govt Officer in 1972, a job he held for 40 years earlier than stepping down on March 31, 2012. He was elected Chairman of the Board in 1985.

“On behalf of the board and the a whole bunch of hundreds of people that put on a Marriott identify badge around the globe, I’d prefer to thank Mr. Marriott for his excellent management all through his tenure with the corporate. He’s really an trade icon,” Marriott Worldwide CEO Anthony Capuano stated.

“I’d additionally prefer to congratulate David Marriott on being elected Chairman of the Board,” Capuano continued. “Not solely does he have super operational expertise from his profession at Marriott, however hospitality is in his DNA. I look ahead to working alongside him for years to come back.”

Along with David Marriott’s Chairman of the Board designation, firm officers elected Isabella D. Goren as an impartial director of the corporate, efficient March 1. Goren was additionally added to the Board’s Audit Committee.

Lawrence W. Kellner additionally knowledgeable the Board of Administrators he wouldn’t stand for re-election, permitting the impartial administrators to pick out Frederick A. Henderson as Lead Director of the Board, efficient instantly following the 2022 Annual Assembly.