Hilton Grand Vacations Inc. Announces Executive Changes
March 25, 2021 at 04:31 pm
Share
On March 19, 2021, Hilton Grand Vacations Inc. entered into a separation agreement (the “Separation Agreement”) with Ms. Sherri A. Silver, pursuant to which Ms. Silver will resign from her position as Executive Vice President and Chief Marketing Officer effective March 19, 2021. She will remain employed by the Company as an advisor to the Company’s Chief Operating Officer through the closing date of the Merger, and, except as otherwise contemplated by the Separation Agreement, her employment with the Company will terminate effective as of the first business day. As previously announced in connection with the announcement of the Merger Agreement, except with respect to Ms. Silver, the Company’s current executive management team will continue to serve in their roles through and after the closing of the Merger. In addition to his current role as the Company’s Chief Operating Officer and having oversight over the Company’s sales and marketing in the Asia region, Mr. Gurnik will be responsible for overseeing the Company’s marketing initiatives and continuing to implement its marketing strategy. Mr. Gurnik, who joined the Company in December 2018 from Travel & Leisure Co. (formerly known as Wyndham Destinations Inc.), has over 30 years in the timeshare industry, including seven years as President of RCI, a worldwide leader in vacation exchange and travel services and the large exchange network in the world where he was instrumental in growing RCI and its products, and oversaw RCI’s strategic direction, marketing and sales, and operations. The Company’s current senior sales leadership will continue to be in charge of the Company’s global sales operations and will be responsible for its combined global sales operations after the closing of the Merger.
Hilton Grand Vacations Inc. is a timeshare company. The Company is engaged in developing, marketing, selling, managing and operating timeshare resorts, timeshare plans and ancillary reservation services, primarily under the Hilton Grand Vacations brand. The Company operates through two segments: Real estate sales and financing and Resort operations and club management. Real estate sales and financing market and sell vacation ownership interests (VOIs). It also sources VOIs through fee-for-service agreements with third-party developers. It provides consumer financing, which includes interest income generated from the origination of consumer loans to customers to finance their purchase of VOIs and servicing the loans. Resort operations and club management segment manage the clubs and earn activation fees, annual dues and transaction fees from member exchanges for other vacation products. Hilton Grand Vacations offers vacation experiences for guests and more than 700,000 club members.