MARRIOTT INTERNATIONAL ANNOUNCES ORGANIZATIONAL STRUCTURE AND EXECUTIVE APPOINTMENTS

BETHESDA, Md., Feb. 24, 2023 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today announced its organizational structure and executive appointments designed to tap its talented leadership bench and accelerate the company's growth.

"The size and scale of our company is significant, and we expect it to be even more so given the exciting opportunities ahead of us," said Anthony Capuano, President and CEO, Marriott International. "With the recent announcement of two executive departures, I am reshaping my team to ensure we can be nimble and effective in driving strategies to benefit our customers, associates and owners and franchisees around the world."

Marriott announced the appointment of Drew Pinto, a nearly 20-year company veteran, to the role of Executive Vice President and Chief Revenue & Technology Officer, reporting to Mr. Capuano. Mr. Pinto will lead sales, revenue management, distribution channels, digital, and information technology for Marriott. "These global platforms are critical to Marriott's continued growth and profitability and Drew is the ideal leader to innovate and scale these capabilities," said Mr. Capuano. 

In addition, the company announced that long-time Marriott executive Peggy Fang Roe has been appointed Executive Vice President and Chief Customer Officer, reporting to Mr. Capuano.  Ms. Roe will be responsible for developing and executing key aspects of the company's global consumer strategy, including evolving our portfolio of brands, the Marriott Bonvoy loyalty program, and developing the end-to-end customer experience using data, AI, and innovation to fuel future growth. "Peggy, who will celebrate her 20^th anniversary with the company next year, has a passion for understanding consumer behavior and creating compelling experiences," said Mr. Capuano. "She has held a wide range of roles across our organization and has a strong track record for innovation and driving performance, which will be tremendously important in her new role."

Marriott further announced that veteran brand leader, Tina Edmundson, has been appointed President, Luxury, a role that underscores the company's commitment to the growth and leadership of its preeminent luxury brand portfolio. Ms. Edmundson is a savvy brand leader, with over 25 years of experience.  Marriott's luxury brands include a prestigious portfolio of nearly 500 properties that encompass some of the world's most desirable and coveted luxury hotel brands: The Ritz-Carlton, Ritz-Carlton Reserve, BVLGARI Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott and W Hotels Worldwide. The company has parlayed the strength of its leadership in luxury hospitality to enter adjacent spaces like the launch of The Ritz-Carlton Yacht Collection as well as its growing global footprint of luxury residential properties. "As we emerge from the pandemic, it is clear guests want aspirational experiences," said Mr. Capuano. "When it comes to luxury travelers, we are focused on the entirety of the experience – making it differentiated, elevated and memorable. Tina is a recognized leader in experiential luxury and lifestyle travel – there is no one better to grow our leadership position in this space and to be a steward of this unmatched portfolio."

The company is also pleased to announce the return of Yibing Mao, a 24-year Marriott veteran. Ms. Mao has been appointed President, Greater China.  A native of Beijing who calls Hong Kong home, Ms. Mao joined Marriott in 1996.  She held positions of increasing responsibility during her tenure with the company and before she stepped down in 2020, held the position of Senior Vice President & Chief Legal Counsel, Asia Pacific. "I am delighted that Yibing is returning to Marriott in the role of President of Greater China, one of our fastest growing regions," said Mr. Capuano. "During her time with the company, she led Marriott's efforts to develop a strong profile in Asia, and forge substantive and collaborative relationships with owners and key internal and external stakeholders. Yibing is exactly who we need to lead the next chapter of growth for Marriott in Greater China."

With strong momentum and a pipeline of about 280,000 hotel rooms outside the U.S., the growth opportunity internationally for Marriott is significant. Under the company's new structure, Marriott's continent presidents will all report directly to Mr. Capuano: Satya Anand, President, Europe, Middle East & Africa (EMEA); Brian King, President, Caribbean & Latin America (CALA); Raj Menon, President, Asia Pacific Excluding China (APEC); and Yibing Mao, President, Greater China (GC). Liam Brown, Group President, U.S. and Canada, will continue to report to Mr. Capuano.

In addition, Chief Financial Officer, Leeny Oberg, will lead the company's Global Development organization, which is responsible for the strategic growth of the company's 30 lodging brands. Ms. Oberg is being appointed Chief Financial Officer and Executive Vice President, Development. "Leeny has a passion for investing in the growth of our business," said Mr. Capuano, "and will be a powerful advocate for our portfolio of brands – building on the accelerating pace of development activity we enjoyed in 2022 as global recovery continues." 

Note on forward-looking statements:  All statements in this press release are made as of February 24, 2023. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements related to our growth and profitability prospects; our development pipeline and momentum; the pace of growth in certain of our regions; our focus on growth in certain product tiers; our prospects for innovation; 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 filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,300 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

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