Bill Marriott is stepping down as Marriott International’s CEO and will become executive chairman of the company’s board of directors. Current president and COO Arne Sorenson will move into the CEO role, while group president Robert McCarthy becomes the new COO. All three appointments are effective March 31, 2012.
“Looking forward, one of my most important responsibilities is to work with our board of directors to ensure that we are best positioned to succeed in the future,” says Bill Marriott in a statement. ” As executive chairman, in addition to my ongoing role as chairman of the board, I will continue to share my experience with our senior management team as we pursue our paths of growth and face the cyclical events I have confronted so many times in my career. My energies will also be directed at continuing to reinforce the timeless core values that have been the bedrock of our success and to being a company ambassador as we build opportunity around the world.”
