Marriott International, Inc. (NASDAQ: MAR) today announced that Tim Sheldon is retiring from his role as President, Caribbean and Latin America in early 2021, following a 35-year career with the company.
“Tim has been an integral part of Marriott over the past three decades and it is difficult to imagine Marriott without him,” said Dave Grissen, Group President, Americas. “He has truly shaped the organization with his entrepreneurial spirit, astute focus on key business drivers and warm leadership style that has inspired many. We will certainly miss Tim, but I know that this new chapter in his life will be as meaningful and dynamic as his distinguished career at Marriott.”
Mr. Sheldon led the company’s rapid expansion in the Caribbean and Latin America over the past five years, doubling the region’s portfolio to 268 properties with another 132 projects in the pipeline. He oversaw the integration of Starwood in the Caribbean and Latin America, which added six new markets and eight brands to the company’s regional portfolio. In addition, he led the successful launch of Marriott International’s all-inclusive platform last year.
Sheldon joined Marriott International in 1985 and held various positions throughout his career. As Senior Vice President and Brand Manager he led Marriott’s entry into the moderate-tier extended-stay space with the development of the TownePlace Suites brand. While at the helm of the Global Operations group, he directed the successful roll-out of Mobile Check-In for the company.
Mr. Sheldon will remain with the company through the first quarter of 2021 helping with the transition. The company anticipates announcing Mr. Sheldon’s successor shortly.
CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS
All statements in this announcement are made as of June 24, 2020. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This announcement contains “forward-looking statements” within the meaning of federal securities laws, including statements related to expected leadership changes, our pipeline of new projects, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that 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.
