Marriott CEO to Step Down
Bill Marriott, Chairman and CEO of Marriott International announced Tuesday that he will be assuming the role of Executive Chairman of the company and relinquish the role of Chief Executive Officer effective March 31.
“As Executive Chairman, I will continue to share my many years of experience with our senior management team as we pursue future growth. My energies will also be directed at reinforcing the timeless core values that have been the bedrock of our success. I still plan on visiting a lot of our hotels and continuing to be a company ambassador as we build opportunity throughout the world,” said Marriott.
Arne Sorenson will be appointed President and Chief Executive Officer by the Board, also effective March 31.
Sorenson was recruited by Marriott in 1996 after working extensively with him in the early 1990’s on the split that created what are now called Marriott International and Host Hotels & Resorts. He became Chief Financial Officer by 1998, and later added responsibility for overseeing business in Europe. In 2009, he was appointed President and Chief Operating Officer.
Marriott also announced that Bob McCarthy has been promoted to Chief Operations Officer for Marriott International, effective March 31. In this role, Bob will continue to have oversight for Global Lodging Services and the Ritz Carlton Hotels.
In 2012, the company will celebrate its 85th birthday and Bill Marriott will celebrate his 60th year of service with the company.
“I am excited by all that Arne and Bob will bring to their new roles and am pleased to continue our great partnership,” said Marriott.