Four Seasons Hotels and Resorts' CEO to Transition

WHY IT RATES: Travel agents should be prepared to answer questions from clients regarding the change in command at Four Seasons.—Donald Wood, Breaking News Senior Writer.

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Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, announced its President and Chief Executive Officer, J. Allen Smith, will be leaving his position at the end of 2018 upon the completion of his five-year contract with the company.

"Through his five years of leadership, Allen has built an outstanding senior management team and successfully pursued strategic initiatives so the company is well positioned for the next chapter of its evolution and leadership," Four Seasons Founder and Chairman Isadore Sharp said. "The board and Allen are committed to a successful CEO transition and meeting their responsibility to maintain and enhance Four Seasons brand, people and service culture, and management capabilities. Four Seasons has never been stronger."

Smith, who was appointed President and CEO in 2013, will continue to lead Four Seasons until the Board of Directors completes its search for a successor.

"It is a profound honor and privilege for me to lead Four Seasons and I am deeply grateful to my colleagues whose passion for being the best is evident every day in all that they do," Smith said. "I have been fortunate to enjoy the tremendous support of our Board of Directors and hotel owners, who share a deep sense of commitment to our long-term success."

SOURCE: Four Seasons Hotels and Resorts press release.