FelCor Announces Leadership Transition
19 Setembro 2016 - 9:00AM
Business Wire
COO Troy A. Pentecost Appointed President and
Interim Senior Executive Officer; Richard A. Smith Retires as
President, CEO and Director
FelCor Lodging Trust Incorporated (NYSE:FCH) today announced
that Richard A. Smith, the Company’s former President and Chief
Executive Officer, has retired. Troy A. Pentecost, the Company's
long-time Chief Operating Officer and a 35-year veteran of the
hospitality industry, has been appointed to the additional
positions of President and interim senior executive officer,
effective immediately. Mr. Smith, who also resigned from the
Company’s board of directors, will remain with the Company in a
nonexecutive role through the end of the year to facilitate the
transition of his responsibilities. The board of directors intends
to engage Spencer Stuart to assist with identifying a new CEO.
“The changes announced today are the first step in embarking on
a leadership transition that will enable us to continue unlocking
stockholder value,” said Thomas J. Corcoran, Jr., chairman of
FelCor’s board of directors. “Rick Smith devoted more than a decade
of his intelligence, determination and business acumen to leading
the Company. The result is a much higher quality portfolio and
strong balance sheet, both of which position FelCor exceptionally
well for the future.”
“Now is the time to begin the process of selecting a new chief
executive who can best lead the company through the next phase of
its growth and development,” said Christopher J. Hartung, FelCor's
lead independent director. “Troy has significant hospitality
industry experience and deep knowledge of FelCor’s operations,
which make him the right fit to lead FelCor during this interim
period. We are confident Troy can continue to execute the company’s
strategy without missing a beat, while the board works to find a
permanent CEO.”
“I am excited to lead this outstanding management team and will
work closely with our Board and business partners to drive the
continued success of FelCor, building on the progress made under
Rick’s leadership and creating additional long-term value for our
stockholders," said Mr. Pentecost.
Mr. Corcoran added, “On behalf of the entire board, I’d like to
thank Rick for his many contributions to FelCor. We wish him all
the best in his retirement.”
Biographical Information
Mr. Pentecost, a 35-year hospitality veteran, joined FelCor as
Executive Vice President and Director of Asset Management in March
2006. He was named Chief Operating Officer in 2010 with direct
responsibility for the asset management and design and construction
groups. Prior to FelCor, Mr. Pentecost was with Remington Hotel
Corporation as Senior Vice President of Operations and Divisional
Vice President of Operations. In his role, he was responsible for
the company’s Operational and Sales activity. Prior to Remington,
Mr. Pentecost was with Wyndham International in various management
roles including Regional Vice President, Area Director and General
Manager, from 1993 to 2004. Mr. Pentecost also worked previously
with Guild Hotel Management Company where he served at Regional
Vice President and Director of Operations.
About FelCor
FelCor, a real estate investment trust, owns a diversified
portfolio of primarily upper-upscale and luxury hotels that are
located in major and resort markets throughout the U.S. FelCor
partners with leading hotel companies to operate its hotels, which
are flagged under globally renowned names and premier independent
hotels. Additional information can be found on the company’s
website at www.felcor.com.
With the exception of historical information, the matters
discussed in this news release include “forward-looking statements”
within the meaning of the federal securities laws that are
qualified by cautionary statements herein and in FelCor’s filings
with the Securities and Exchange Commission. We undertake no
obligation to update any forward-looking statement to conform the
statement to actual results or changes in our expectations.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005448/en/
FelCor Lodging Trust IncorporatedBianca Sandoval Green,
972-444-4940Vice Presidentbgreen@felcor.comorSard Verbinnen &
Co.Hugh Burns/Robin Weinberg,
212-687-8080hburns@sardverb.comrweinberg@sardverb.com
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