Lodgian Finance Chief Quits

Lodgian (LGN Quote) said Linda Borchert Philp will resign as chief financial officer Dec. 16, though she'll stay on as a part-time consultant to help with year-end paperwork.

The Atlanta-based hotel operator said it already has begun a formal search for a successor.

Philp served as a consultant to Lodgian beginning in 2001 during the company's restructuring. She officially joined the company in 2002 as vice president, treasurer, was promoted to vice president, chief accounting officer and treasurer of the company in November 2003 and was promoted to executive vice president and chief financial officer in January 2005.

"Linda has compiled a very impressive record of success during her four years at Lodgian, playing a key role in our financial restructuring and in strengthening our financial reporting," said CEO Ed Rohling. "At this point in her career, she has decided to make a change and has voluntarily resigned to pursue other opportunities that will allow her to devote more time to her family. Fortunately, we will still benefit from her counsel and experience, as she will remain as a consultant to the company following her official departure date in mid-December."

On Friday, Lodgian shares rose 3 cents to $9.85.