LaSalle Hotel Properties Names Michael D. Barnello Chief Executive Officer
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LaSalle Hotel Properties Names Michael D. Barnello Chief Executive Officer
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Category: Worldwide - Careers
- Appointments
This is a press release selected by our editorial committee and published online for free on 2009-09-15
Lead Director Stuart L. Scott Named Acting Chairman of the Board
LaSalle Hotel Properties (NYSE: LHO) today announced that Michael D. Barnello was named Chief Executive Officer and Lead Director Stuart L. Scott was named acting Chairman of the Board effective immediately. These actions were taken after Mr. Jon E. Bortz informed the Board of his decision to retire from the Company effective as of September 13, 2009, accelerating the previously announced succession plan. Additionally, Mr. Bortz resigned his position as Trustee and Chairman of the Board. Mr. Bortz’ decision to step down early was made to allow him to pursue other career opportunities.
“The Board is greatly appreciative of the outstanding leadership that Jon has provided over the past 11 years, during which time the Company experienced industry leading returns and grew from 10 hotels to 31 hotels,” said Mr. Scott. “We are very excited to have Michael stepping into the CEO role. He has been with the Company since it went public in 1998 and has had a key role in both the development and execution of its strategies. The continuity of his leadership and commitment to excellence positions LaSalle Hotel Properties to continue to be a leader in the hotel industry.”
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