Hyatt Hotels Corporation will realign its corporate leadership team and operations to allow for faster execution of its growth strategy, announced president and CEO Mark Hoplamazian.
The key changes, expected to be completed in 2Q2018, include the formation of a new commercial services portfolio at the executive committee level to combine guest and customer engagement functions under a new chief commercial officer position.
The company is also consolidating managed and franchised hotel operations and owner relations into one portfolio, reporting to Chuck Floyd, global president of operations. The legal and corporate services portfolio is also being realigned under new leadership.
“In order to achieve our growth potential and capitalise on opportunities that come from rapidly-emerging consumer, industry and competitive developments, we must be leaner and more agile,” said Hoplamazian. “This starts at the top with our leadership, and we are making changes to streamline the executive committee and to better enable us to maximise our core hotel business and continue our expansion into new lines of business.”
Reporting directly to Hoplamazian, the chief commercial officer will oversee a portfolio that includes global sales functions, global marketing functions, the global contact centers and information technology. The selection process for the chief commercial officer is expected to complete in the second quarter.
As a part of the organisational realignment, two executives have decided to transition out of Hyatt later this year. Global chief marketing officer Maryam Banikarim and global head of capital strategy, franchising and select service Steve Haggerty will leave Hyatt in the coming months. Their positions will be eliminated upon their departures.
Banikarim will continue to lead the marketing organisation through the end of April, and Haggerty will remain at Hyatt as a special advisor to the CEO through July focused on executing important transactions, among other things.
Margaret Egan, who has served as interim general counsel since last October, is promoted to general counsel, reporting to Hoplamazian.
The loyalty and new business platforms area led by Mark Vondrasek as well as the data, innovation and business transformation area led by Alex Zoghlin will remain in place, with both Vondrasek and Zoghlin continuing to report directly to Hoplamazian.