After more than 60 years of leadership, J.W. Marriott, Jr. has confirmed to the board of directors of Marriott International that he plans to retire as executive chairman in May.
He will not stand for re-election to the board at the upcoming annual meeting of stockholders.
In recognition of his “leadership and his significant contributions to the company,” the board formally designated him chairman emeritus.
In addition, Marriott has elected David Marriott to succeed J.W. Marriott, Jr. as chairman of the board, effective immediately following the annual meeting.
J.W. Marriott, Jr. guided what was once a family-run root beer stand and restaurant business to a global hospitality company that is today comprised of nearly 8,000 properties across 30 brands in 139 countries and territories.
“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,” said Anthony Capuano, chief executive of Marriott International.
David Marriott joined Marriott International in 1999 and was elected as a director in 2021.
Prior to joining the board, he held a number of operational roles during his tenure with the company, including most recently as the president of the United States full service managed by Marriott operation, where he was responsible for oversight of more than 330 hotels operating under 14 brands in 34 states.
The board also announced today it has elected Isabella Goren, a former chief financial officer of American Airlines, as an independent director of the company.
She will take up the role in March.