Laurence Geller, founder, president, and CEO of Strategic Hotels & Resorts, has stepped down from his post. Raymond “Rip” Gellein, Jr., chairman of the company’s board of directors, will assume the additional role of CEO.
“We have emerged from the recession a strong company with great assets well positioned for sustained growth in a virtually no-supply environment,” Geller says. “Now is an excellent time to transition leadership of the Company into Rip’s more-than-capable hands and focus on my myriad other activities and the next chapter in my life. I remain a significant shareholder of the company and hold it in the highest regard,” Geller concluded.
Gellein previously was president of the global development group for Starwood Hotels and Resorts and, before that was the director, chairman, and CEO of Starwood Vacation Ownership.
