It’s the end of an era at Marriott International Inc. Earlier this week the company announced that Bill Marriott will be stepping down as CEO and replaced by Arne Sorenson, currently president and COO.
In making the announcement, Marriott said, “As we approach the 85th birthday of our company in 2012 and I proudly celebrate my 60th year of service, I decided to recommend to the board that Arne Sorenson take over the CEO responsibilities. I have been so fortunate to have worked with some of the most talented people in the world over the past six decades. It’s amazing to me what we have accomplished over the years together – from a small root beer stand in Washington, D.C. to a global lodging powerhouse with operations in more than 70 countries”.
“I am grateful to Bill Marriott and the board for their confidence, and I am tremendously optimistic about the future of our company, which continues to benefit from Mr. Marriott’s wise, visionary and steady leadership.” said Sorenson in a statement.
The board also appointed Robert McCarthy, currently group president for the company, as Marriott International’s COO.
Marriott will assume the role of Executive Chairman of the company.