Summary
Marriott International, Inc. (MAR) filed an 8-K report on September 10, 2008, primarily to disclose a significant executive transition within its Lodging Development division. James M. Sullivan, Executive Vice President of Lodging Development, announced his intention to retire effective April 1, 2009. This planned retirement provides a substantial transition period, allowing for a smooth handover of responsibilities. The company also announced that Anthony G. Capuano, currently Executive Vice President of Development, The Americas, will assume Mr. Sullivan's role. Mr. Capuano will begin transitioning into his new responsibilities over the next seven months, ensuring continuity in the crucial Lodging Development function. This proactive management of executive succession aims to minimize disruption and maintain strategic momentum.
Key Highlights
- 1James M. Sullivan, Executive Vice President of Lodging Development, announced his retirement effective April 1, 2009.
- 2The retirement announcement was made on September 4, 2008.
- 3Anthony G. Capuano will succeed Mr. Sullivan as Executive Vice President of Lodging Development.
- 4Mr. Capuano is currently the Executive Vice President of Development, The Americas.
- 5A seven-month transition period is planned for Mr. Capuano to assume his new responsibilities.
- 6The company issued a press release on September 10, 2008, detailing these executive changes.