La Quinta Holdings' board of directors announced the appointment of Keith Cline to the role of president and CEO.
Cline had been serving as president and CEO on an interim basis, so the appointment is effective immediately.
The board also confirmed the appointment of Jim Forson as executive vice president and chief financial officer. Forson had also been serving in his current role on an interim basis prior to the announcement.
The chairman of the board of directors, Mit Shah, cited Cline's "strategic vision, brand experience, team building acumen and ability to execute" in explaining the appointment.
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"The Board is confident that Keith and his executive team will optimize the performance of the La Quinta brand to drive long-term growth and enhance shareholder value," Shah concluded in a statement.
Cline first joined La Quinta in early 2013, serving in Forson's current role of executive vice president and chief financial officer. In September 2015, Cline took over as president and CEO on an interim basis, replacing Wayne Goldberg, who had been serving in the role since 2006.
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La Quinta's board of directors announced in September 2015 that it would be working with executive search firm Korn Ferry to find a permanent replacement.
In his own statement, Cline said he's "honored" by the appointment.
"We will work tirelessly to satisfy our guests, create value for our shareholders and continue to make La Quinta a great place to work and to invest," he concluded.
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