Leading Hotels: Ted Teng steps down as President & CEO; Shannon Knapp named interim CEO
Ted Teng to Step Down as President and CEO of The Leading Hotels of the World, Ltd.; Shannon Knapp, Senior Vice President and Chief Marketing Officer Named Interim CEO |
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Leading Hotels: Ted Teng steps down as President & CEO; Shannon Knapp named interim CEO
Ted Teng to Step Down as President and CEO of The Leading Hotels of the World, Ltd.; Shannon Knapp, Senior Vice President and Chief Marketing Officer Named Interim CEO |
Category: Worldwide - Careers
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This is a press release selected by our editorial committee and published online for free on 2019-01-30
The Leading Hotels of the World, Ltd announced today that Ted Teng is stepping down from his position as President and CEO, effective April 12, 2019, after 10 years leading the company. The Leading Hotels of the World Executive Committee has named Shannon Knapp, Senior Vice President and Chief Marketing Officer, as interim CEO, assuming responsibilities as of April 13, 2019.
“On behalf of the Executive Committee, I would like to thank Ted Teng for his leadership and invaluable contributions to LHW over the past decade,” said Andrea Kracht, Chairman, Executive Committee of The Leading Hotels of the World, Ltd. “He has remained steadfast in his commitment to reignite the now nine-decade old brand by honoring its traditions, while innovating to achieve greater strength and success for the future. It was this commitment that enabled LHW to achieve unprecedented member hotel revenue in 2018, surpassing $1 billion for the first time in the company’s history.”
“After 10 years as President and CEO of Leading Hotels, I am proud of re-establishing the company’s position in the industry and the growth that we have been able to accomplish, “ said Ted Teng, President and CEO, The Leading Hotels of the World. “Since joining the company in 2008, I have held firm to my guiding principle, ‘Preserve, Enhance, and Invent,’ focusing on restoring the Leading Hotel’s foundation to better serve its member hotels, enhancing the quality of the collection and redefining a differentiated business strategy to guide the company into the future.”
Teng’s career, spanning 40 years, has been rooted in hospitality industry. Prior to joining The Leading Hotels of the World, Teng led the growth of some of the world’s most prominent hotel brands, serving as president, chief operating officer of Wyndham International, Inc., and president, Asia-Pacific, for Starwood Hotels & Resorts Worldwide, Inc., following the merger of Starwood Lodging, Westin, and Sheraton. In addition, Teng has been dedicated to developing the future generation of hospitality leaders through his service at his alma mater, The School of Hotel Administration at Cornell University, as well as other hospitality schools and development programs around the world.
As the Executive Committee considers the plan for CEO succession, they have asked Shannon Knapp to lead the company through the transition. Knapp has been instrumental in the company’s growth over the last five years and a driving force of strategy and innovation at Leading Hotels. Knapp also brings extensive experience in the broader travel industry. Prior to joining Leading Hotels as Senior Vice President and Chief Marketing Officer, she spent 15 years with American Express, where she had the opportunity to work in both the Corporate and Leisure travel divisions, managing travel programs, partners and benefits for the consumer and travel consortia business.
About The Leading Hotels of the World, Ltd. (Leading Hotels)Comprised of more than 400 hotels in over 80 countries, Leading Hotels is a collection of uncommon luxury hotels. Rooted in the locations in which they are found, members embody the very essence of their destination. Through varied styles of architecture and design and distinct cultural experiences enhanced by passionate people, the collection is for the curious traveler looking for their next discovery. Established in 1928 by several influential and forward-thinking European hoteliers, Leading Hotels has a nine-decade-long commitment to providing remarkable, authentic travel experiences. The company selects only hotels that meet its high standards for quality and distinctiveness, resulting in a curated portfolio of hotels united not by what makes them the same, but the details that make them different. Leaders Club is the company’s exclusive tiered guest loyalty program, consisting of like-minded travelers seeking uncommon travel experiences. The program provides its members with personalized service and exclusive travel benefits to enhance their stays at any Leading Hotel around the world.
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