At Marriott, Finance Chief Is Promoted

(Tuesday, March 10, 2009) - Marriott International Inc. said President and Chief Operating Officer William J. Shaw will be giving up his operating duties to become vice chairman, with Chief Financial Officer Arne M. Sorenson taking his place.

The hotel giant said Carl T. Berquist, principal accounting officer, will succeed Mr. Sorenson as chief financial officer.

The changes, effective May 1, take place as leisure and corporate travel has dried up around the globe, sending Marriott into the red in the fourth quarter. As they posted results last month, company executives warned the lodging business could deteriorate further this year.

Marriott, with more than 3,000 properties in 66 countries across all segments -- from budget hotels to luxury brands like the Ritz-Carlton -- is considered a lodging-industry bellwether.

Mr. Shaw has been president and operating chief for 12 years as Marriott doubled its size while at the same time exiting noncore businesses.

Mr. Sorenson joined Marriott in 1996, and the next year led the acquisition of the Renaissance Hotels & Resorts brand. He was named finance chief in 1998, and in 2003 assumed responsibility for continental European lodging, managing operations at more than 100 hotels and spearheading the launch of the Courtyard brand in the region.

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