Morgans Hotel Group Names Fred J. Kleisner as President and CEO
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Morgans Hotel Group Names Fred J. Kleisner as President and CEO
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Category: North America & West Indies / Carribean islands - Careers
- Appointments
This is a press release selected by our editorial committee and published online for free on 2007-12-12
Morgans Hotel Group Co. (NASDAQ: MHGC) ("MHG") today announced that Fred J. Kleisner has been appointed President and Chief Executive Officer of the Company. Mr. Kleisner has served as MHG's interim President and CEO since September and has been a member of the Company's Board of Directors since its initial public offering in February 2006.
Robert Friedman, Chairman of the Search Committee of the MHG Board of Directors, said, "We conducted a thorough search process with the assistance of Spencer Stuart, and considered a number of highly qualified internal and external candidates. The Board unanimously concluded that Fred has the right combination of experience in our space and passion to lead MHG ahead. We are extremely pleased to announce his new role."
"Fred took the helm as interim CEO in September and has done an extraordinary job, quickly gaining the confidence of investors, customers, and MHG's employees," said David T. Hamamoto, Chairman of MHG. "Fred has extensive experience and great depth in the hotel industry where he has worked for four decades, as well as substantial expertise in the luxury boutique hotel sector. The Board and I have no doubt that his detailed knowledge of both the company and our markets - with the support of MHG's strong management team - will allow Morgans Hotel Group to continue to be an innovative leader in the boutique hotel sector. Fred's continued leadership will provide the direction, support and continuity to drive MHG's future success."
Mr. Kleisner said, "I am delighted to continue leading MHG. My experience over the last two months reinforces my confidence in our assets, our people, and our prospects. MHG sits in the sweet spot of the most desirable sector in the industry. Our portfolio of iconic hotels has an enduring appeal. We will continue to reinvigorate our brands and expand into new markets where we can best serve our loyal, sophisticated guests."
Mr. Kleisner joined Wyndham International in 1999 as President and Chief Operating Officer and then in 2000 was given the additional responsibility of Chief Executive Officer. He continued to serve as President and CEO until 2006. He was also named Chairman of the Board of Directors in October of 2000. He previously served as President and Chief Operating Officer of The Americas for Starwood Hotels & Resorts Worldwide, Inc. His more than four decades of experience in the industry also includes senior positions with Westin Hotels and Resorts, where he was President and Chief Operating Officer from 1995 to 1998; Interstate Hotels Company, where he was Executive Vice President and Group President of Operations from 1990 to 1995; The Sheraton Corporation, where he was Senior Vice President, Director of Operations, North America Division-East from 1985 to 1990; and Hilton Hotels, where for 16 years he served as General Manager of several landmark hotels, including The Waldorf=Astoria and The Waldorf Towers in New York, The Capital Hilton in Washington, D.C. and The Hilton Hawaiian Village in Honolulu.
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