Summary
Marriott International, Inc. (MAR) announced on November 8, 2018, the resignation of W. Mitt Romney from its Board of Directors. Mr. Romney cited his inability to dedicate sufficient time and attention to the company and its shareholders due to his future plans as the reason for his departure. Importantly, the company clarified that Mr. Romney's resignation was not due to any disagreements with Marriott's operations, policies, or procedures.
Key Highlights
- 1W. Mitt Romney has resigned from the Marriott International, Inc. Board of Directors, effective November 8, 2018.
- 2The stated reason for resignation is Mr. Romney's pursuit of future plans, requiring more time and attention.
- 3The resignation is not a result of any disagreements with the company's operations, policies, or procedures.
- 4The size of the Board of Directors has been reduced from fourteen to thirteen members, effective concurrently with Mr. Romney's resignation.