Summary
This 8-K filing by Marriott International, Inc. (MAR) on January 12, 2011, primarily reports on changes within its Board of Directors. Notably, W. Mitt Romney resigned from the Board effective January 12, 2011, and this resignation led to a reduction in the Board's size from eleven to ten directors. This event did not stem from any disagreements with the company's operations or policies. Additionally, William J. Shaw resigned from the Board, effective February 11, 2011, in conjunction with his previously announced retirement as Vice Chairman of the Company, scheduled for March 31, 2011. Arne M. Sorenson, currently President and Chief Operating Officer, was elected to replace Mr. Shaw on the Board, effective after the February 11, 2011 board meeting. These board changes are not attributed to any negative company performance or disagreements.
Key Highlights
- 1W. Mitt Romney resigned from the Board of Directors, effective January 12, 2011.
- 2The size of the Board of Directors was reduced from eleven to ten members, effective with Mr. Romney's resignation.
- 3William J. Shaw resigned from the Board of Directors, effective February 11, 2011.
- 4Mr. Shaw's resignation is linked to his upcoming retirement as Vice Chairman, effective March 31, 2011.
- 5Arne M. Sorenson, President and COO, was elected to the Board, replacing Mr. Shaw.
- 6None of the reported resignations or appointments were due to disagreements with Marriott's operations, policies, or procedures.
- 7There were no reportable transactions between Marriott and newly elected director Arne M. Sorenson under Item 404 of SEC Regulation S-K.