Marriott appoints new CEO and President

The Board of Directors of Marriott International (NASDAQ: MAR) announced today that Anthony “Tony” Capuano has been appointed CEO and has joined the company's board of directors, effective immediately. Previously, he was Group President, Global Operations, Design and Development Services. The Board of Directors also announced that Stephanie Linnartz, formerly Group President, Consumer Operations, Technology and Emerging Business, has been appointed President, effective immediately. The appointments of Capuano and Linnartz follow the unexpected passing of Marriott president and CEO Arne Sorenson on February 15, 2021.

"Tony has played a critical role in the growth of Marriott over the past decade," said JW "Bill" Marriott, Jr., CEO and Chairman of the Board of Directors of Marriott International. “He will be an excellent leader as we continue to advance our growth strategy while navigating the dynamics of the COVID-19 pandemic market. He works thoughtfully and pragmatically with our community of owners and franchisees and has been steadfast in ensuring that Marriott delivers operational excellence and elevated customer experiences at our properties. Tony deeply appreciates the thousands of Marriott associates who ultimately deliver on our brand and customer promise, and I know he will be an excellent steward of our culture.

“I am honored to be appointed to take over at Marriott, but it is a bittersweet moment,” said Mr. Capuano. “Arne was a mentor, champion, and friend to each member of his close-knit leadership team. It is thanks to Arne's efforts that we are prepared to move forward with this transition. Together, we will advance the strategy we have in place, which is focused on recovery, expansion, providing opportunities for our associates, maintaining constructive relationships with our owners and franchisees, providing safe and innovative experiences for our guests and clients, and building value for our shareholders ”.

Prior to this appointment, Mr. Capuano, 55, was group president, global operations, design and development services. In this role, he was responsible for leading the global design and development efforts and overseeing the company's Global Operations discipline. During Mr. Capuano's tenure as a leader in global development, the company increased its presence from just over 3,200 properties in early 2009 to over 7,600 properties by the end of 2020. Additionally, Mr. Capuano has overseen the tremendous growth and globalization of Marriott's development pipeline for 498,000 rooms as of December 31, 2020, and more than half of the portfolio represents projects outside of the US During the COVID-19 pandemic, Mr.

Mr. Capuano began his career with Marriott in 1995 as part of the Market Planning and Feasibility team. Between 1997 and 2005, he led Marriott's full-service development efforts in the western US and Canada. From 2005 to 2008, Mr. Capuano served as Senior Vice President of Full Service Development for North America. In 2008, his responsibilities expanded to include the entire US, Canada, the Caribbean and Latin America, and he became Executive Vice President and Director of Global Development in 2009. Mr. Capuano began his professional career at Laventhol and Horwath's Leisure Time, based in Boston. Advisory Group. He then joined the hotel consulting group at Kenneth Leventhal and Company in Los Angeles. Mr. Capuano earned his BA in Hospitality Management from Cornell University. He is an active member of the Cornell Hotel Society and a member of the Dean's Advisory Council of the Cornell School of Hotel Administration. Mr. Capuano is also a member of the Real Estate Industry Financial Advisory Council of the American Hotel and Lodging Association.

As president, Ms. Linnartz will be responsible for developing and executing all aspects of the company's global consumer strategy, including branding, marketing, sales, revenue management, customer engagement, digital, technology. information, emerging businesses and loyalty strategies. In addition, Ms. Linnartz will oversee Marriott's global development organization, which is responsible for the strategic growth of the company's 30 lodging brands, as well as global operations and design services functions. Ms. Linnartz will also spearhead the company's progress on issues including the intersection of technology and hospitality, the continued growth of the Marriott Bonvoy loyalty platform,

"Stephanie has a history of leadership and a clear vision of how our core lodging business, travel platform initiatives, and loyalty strategies can work together to accelerate growth," said Mr. Marriott. “His extensive experience in our business will allow him to seamlessly work with our owners and franchisees, innovate for our guests and customers, and promote new opportunities for our associates. Tony and Stephanie are exactly the CEO and President we need as we continue to move toward recovery and growth for years to come. "

“All members of the leadership team feel a deep sense of loss over Arne's passing. He was not just a friend and leader to us, he was a milestone for the hospitality industry, ”said Ms. Linnartz. “The best way we can honor Arne's memory is to keep moving the company forward. It is my privilege to assume the role of president and work with Tony and the rest of the executive team to ensure a smooth transition and successfully execute our strategy. "

Prior to this appointment, Ms. Linnartz, 52, was Group President, Consumer Operations, Technology and Emerging Business, where she was responsible for branding, marketing, sales, revenue management, customer engagement, digital technology, and information, emerging businesses and loyalty strategies. . Ms. Linnartz played a critical role during Marriott's acquisition of Starwood Hotels & Resorts, overseeing the integration of business-critical systems, including reservations, property management, revenue management, and loyalty. In 2019, under his leadership, the company combined the loyalty programs of Marriott and Starwood to create the world's largest hospitality loyalty program, Marriott Bonvoy,

Ms. Linnartz, who began her career at Marriott in 1997, served as Global Commercial Director from 2013 to 2019; Global Director of Sales and Revenue Management from 2009 to 2013; Senior Vice President of Global Sales from 2008 to 2009; Senior Vice President of Sales and Marketing Planning and Support from 2005 to 2008; and prior to that, various roles in Marriott's Finance and Business Development Department. He currently sits on the board of directors of The Home Depot, the world's largest home improvement retailer. He holds a BA in political science and government from the College of the Holy Cross, where he is a member of the Board of Trustees, and earned his MBA from the College of William and Mary.