by Donald Wood
Last updated: 10:30 AM ET, Mon February 14, 2022
Marriott International, Inc. announced J.W. Marriott, Jr. plans to retire as Executive Chairman in May and will not stand for re-election to the Board of Directors at the upcoming Annual Meeting of Stockholders.
After more than 60 years of leadership, David S. Marriott will succeed as Chairman of the Board, effective immediately following the annual meeting. Company officials also voted to designate J.W. Marriott, Jr. as Chairman Emeritus, effective immediately.
J.W. Marriott, Jr. became President of the company in 1964 and Chief Executive Officer in 1972, a role he held for 40 years before stepping down on March 31, 2012. He was elected Chairman of the Board in 1985.
"On behalf of the board and the hundreds of thousands of people who wear a Marriott name badge around the world, I'd like to thank Mr. Marriott for his outstanding leadership throughout his tenure with the company. He is truly an industry icon," Marriott International CEO Anthony Capuano said.
"I'd also like to congratulate David Marriott on being elected Chairman of the Board," Capuano continued. "Not only does he have tremendous operational experience from his career at Marriott, but hospitality is in his DNA. I look forward to working alongside him for years to come."
In addition to David Marriott's Chairman of the Board designation, company officials elected Isabella D. Goren as an independent director of the company, effective March 1. Goren was also added to the Board's Audit Committee.
Lawrence W. Kellner also informed the Board of Directors he would not stand for re-election, allowing the independent directors to select Frederick A. Henderson as Lead Director of the Board, effective immediately following the 2022 Annual Meeting.
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