Patrick Grismer to Step Down, Succeeded by Joan Bottarini
CHICAGO--(BUSINESS WIRE)--
Hyatt
Hotels Corporation (NYSE:H) today announced that Patrick Grismer has
resigned as chief financial officer, effective November 2, 2018, in
order to assume the CFO position at Starbucks Corporation. Upon his
departure, Grismer will be succeeded by Joan Bottarini, currently senior
vice president of finance for the Americas at Hyatt.
Bottarini has been with Hyatt since 1999 and held a number of finance
positions over her career, including vice president of hotel finance for
Asia Pacific, vice president strategic financial planning and analysis,
and director financial communications.
“We are grateful for Pat’s many contributions to Hyatt, particularly his
efforts to refine our growth strategy, clarify our investor narrative
and elevate the Finance function through focused leadership
development,” said Mark Hoplamazian, chief executive officer, Hyatt.
“Pat was instrumental in evolving our capital strategy while sustaining
a high rate of growth and increasing shareholder capital returns. We
understand his decision to pursue a new opportunity and wish him the
best in his new role.”
Grismer said, “I would like to thank Mark, Hyatt’s Board of Directors
and my colleagues around the world for the outstanding support they have
provided, and I look forward to maintaining our relationships in the
years ahead. I am proud of what we accomplished during my tenure at
Hyatt. The company has exceptionally talented executives, including
Joan, and I am confident that Hyatt is well positioned for continued
growth and success.”
Hoplamazian continued: “I am thrilled to welcome Joan onto the executive
team in the key role of CFO. I have had the pleasure of working directly
with Joan for many years, and I have every confidence that with her
leadership, we will build on the company’s strength and momentum.”
“I am honored to be joining the executive team as Hyatt’s new chief
financial officer,” said Bottarini. “Over the course of my career, I
have had the great benefit of being mentored by Pat and other leaders,
which is a hallmark of the Hyatt family. I am eager to continue to build
on our finance team leadership development efforts around the world as
we remain focused on building value for our shareholders.”
The company reaffirmed its full-year 2018 Outlook provided on October 1,
2018.
The term “Hyatt” is used for convenience to refer to Hyatt Hotels
Corporation, one or more of its affiliates, and/or one or more Hyatt
hotels. Some of these positions will be at hotels managed by Hyatt while
other positions may be at hotels franchised by Hyatt and/or where a
third party is the employer. It does not refer to the Hyatt Hotels
Foundation. Please note that all hiring by Hyatt hotels is subject to
applicable law, which may include without limitation non-discrimination
and minimum age requirements.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global
hospitality company with a portfolio of 14 premier brands. As of June
30, 2018, the Company's portfolio included more than 750 properties in
more than 55 countries across six continents. The Company's purpose to
care for people so they can be their best informs its business decisions
and growth strategy and is intended to attract and retain top
colleagues, build relationships with guests and create value for
shareholders. The Company's subsidiaries develop, own, operate, manage,
franchise, license or provide services to hotels, resorts, branded
residences, vacation ownership properties, and fitness and spa
locations, including under the Park Hyatt®, Miraval®, Grand
Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound
Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™,
Hyatt Zilara™, Hyatt Residence Club® and exhale® brand
names. For more information, please visit www.hyatt.com
FORWARD-LOOKING STATEMENTS
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements
include, but are not limited to, statements related to the Company’s
2018 outlook, plans, objectives, goals, expectations, beliefs, business
strategies, future events, and expectations, and involve known and
unknown risks that are difficult to predict. As a result, our actual
results, performance or achievements may differ materially from those
expressed or implied by these forward-looking statements. In some cases,
you can identify forward-looking statements by the use of words such as
“may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “continue,” “likely,”
“will,” “would” and variations of these terms and similar expressions,
or the negative of these terms or similar expressions. Such
forward-looking statements are necessarily based upon estimates and
assumptions that, while considered reasonable by us and our management,
are inherently uncertain. Factors that may cause actual results to
differ materially from current expectations include, among others, the
risks discussed in the Company’s filings with the SEC, including our
annual report on Form 10-K and subsequent reports, which filings are
available from the SEC. We caution you not to place undue reliance on
any forward-looking statements, which are made only as of the date of
this press release. We do not undertake or assume any obligation to
update publicly any of these forward-looking statements to reflect
actual results, new information or future events, changes in assumptions
or changes in other factors affecting forward-looking statements, except
to the extent required by applicable law. If we update one or more
forward-looking statements, no inference should be drawn that we will
make additional updates with respect to those or other forward-looking
statements.
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Hyatt
Kathy Krenger, +1 312-780-5129
kathy.krenger@hyatt.com
Source: Hyatt Hotels Corporation