(RTTNews) - Marriott International, Inc. (MAR) said J.W. Marriott, Jr. plans to retire as Executive Chairman in May. The Board formally designated him Chairman Emeritus. Also, the Board has elected David Marriott to succeed J.W. Marriott, Jr. as Chairman of the Board, effective immediately following the Annual Meeting.
The Board also announced it has elected Isabella "Bella" Goren, former Chief Financial Officer, American Airlines, Inc. and its parent, AMR Corporation, as an independent director of the company, effective March 1, 2022. The Board also appointed Goren to the Board's Audit Committee.
The Board announced that Lawrence Kellner will not stand for re-election at the 2022 Annual Meeting. The independent directors of the Board selected Frederick "Fritz" Henderson to succeed Kellner as Lead Director of the Board, effective immediately following the 2022 Annual Meeting.
Marriott noted that, upon J.W. Marriott, Jr.'s and Kellner's departure, the Board will reduce its size from 14 members to 12 members.
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