Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On February 2, 2021, Marriott International, Inc. ("Marriott" or the "company")
announced that Arne Sorenson, President and Chief Executive Officer of Marriott,
will be temporarily reducing his schedule to facilitate his treatment for
pancreatic cancer. Two veteran Marriott executives will share responsibility for
overseeing the day-to-day operations of Marriott's business units and corporate
functions during this period, in addition to maintaining their current
responsibilities. Stephanie Linnartz, Group President, Consumer Operations,
Technology and Emerging Businesses, will oversee the company's International
lodging division, as well as Legal, Human Resources and Communications & Public
Affairs. Anthony G. Capuano, Group President, Global Development, Design and
Operations Services, will oversee the company's U.S. and Canada lodging division
and Finance. During this time, Mr. Sorenson will stay involved in directing the
company to the extent practical and will remain a member of the board of
directors.
Ms. Linnartz, age 52, became Group President, Consumer Operations, Technology
and Emerging Businesses in January 2020. She is responsible for the Company's
brand management, sales, marketing, revenue management, distribution, customer
experience and innovation, information technology and digital functions,
including Marriott Bonvoy, the Company's loyalty program. Ms. Linnartz also is
responsible for developing, incubating, and running new lines of business.
Ms. Linnartz, who began her Marriott career in 1997, served as Global Chief
Commercial Officer from 2013 to 2019; Global Officer, Sales and Revenue
Management from 2009 to 2013; Senior Vice President, Global Sales from 2008 to
2009; and, Senior Vice President, Sales and Marketing Planning and Support from
2005 to 2008; and prior to that, various roles in Marriott's Finance and
Business Development Department. She currently serves on the Board of Directors
of The Home Depot (NYSE:HD). She holds a bachelor's degree in Political Science
and Government from the College of the Holy Cross, where she is a member of the
Board of Trustees, and earned her Master of Business Administration from the
College of William and Mary.
Mr. Capuano, age 55, became Group President, Global Development, Design and
Operations Services in January 2020. He is responsible for leading the Company's
global development and design efforts and oversees the Company's Global
Operations discipline. Mr. Capuano began his Marriott career 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 U.S. & Canada. In
early 2008, his responsibilities expanded to include all of U.S. & Canada and
the Caribbean and Latin America and he became Executive Vice President and
Global Chief Development Officer in 2009. Mr. Capuano began his professional
career in Laventhol and Horwath's Boston-based Leisure Time Advisory Group. He
then joined Kenneth Leventhal and Company's hospitality consulting group in Los
Angeles, CA. Mr. Capuano earned his bachelor's degree in Hotel Administration
from Cornell University. He is an active member of the Cornell Hotel Society and
a member of The Cornell School of Hotel Administration Dean's Advisory Board.
Mr. Capuano is also a member of the American Hotel and Lodging Association's
Industry Real Estate Financial Advisory Council.
All statements in this Form 8-K and in the attached press release are made as of
February 2, 2021. Marriott undertakes no obligation to publicly update or revise
these statements, whether as a result of new information, future events or
otherwise. This Form 8-K and the attached press release contain "forward-looking
statements" within the meaning of federal securities laws, including statements
related to expected leadership changes, the structure of the company's
management operations, and similar statements concerning anticipated future
events and expectations that are not historical facts. These statements are not
guarantees of future performance and are subject to numerous evolving risks and
uncertainties that we may not be able to accurately predict or assess, including
the risk factors that we identify in our Securities and Exchange Commission
("SEC") filings, including our most recent Quarterly Report on Form 10-Q.
Item 7.01 Regulation FD Disclosure.
A copy of Marriott's press release addressing the subject of this Form 8-K is
furnished as Exhibit 99.
The information in this Item 7.01, including Exhibit 99, is being furnished and
shall not be deemed incorporated by reference into any other filing with the
Securities and Exchange Commission.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Marriott is furnishing the following exhibit with this report:
99 Press Release issued on February 2, 2021.
104 The cover page to this Current Report on Form 8-K, formatted in inline XBRL.
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