Marriott COO to Retire in 2014 (MAR)

Marriott International, Inc. (MAR) announced on Tuesday that its Chief Operations Officer will retire early next year.

COO Robert J. McCarthy has worked for the hotel company for 38 years and was appointed to his current position in late 2011. In February of 2014, Marriott will give broader responsibilities to several other executives, who will oversee some of McCarthy’s prior responsibilities. Dave Grissen, Stephanie Linnartz, and Bruce Hoffmeister will all be given broader roles within the company.

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Commenting on McCarthy’s retirement, President and CEO Arne Sorenson noted “I am tremendously enthusiastic about our future as these talented executives assume their new responsibilities, building on Bob’s legacy. We all wish Bob and his family the very best”.

Marriott shares traded 0.14% higher during Tuesday’s session. Year-to-date, the stock is up 10.85%.