Hilton Introduces Future Board Of Directors For Hilton Grand Vacations
As Hilton (NYSE: HLT) prepares to separate into three independent companies at or around year end, the Company today introduced the prospective members of the Board of Directors of Hilton Grand Vacations ("HGV").
As Hilton (NYSE: HLT) prepares to separate into three independent companies at or around year end, the Company today introduced the prospective members of the Board of Directors of Hilton Grand Vacations ("HGV"). The Board will include directors chosen after a comprehensive review of professional and personal qualifications as they relate to the needs of HGV. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161114005663/en/ HGV is a rapidly growing timeshare company that markets and sells vacation ownership intervals, manages resorts in top leisure and urban destinations, and operates a points-based vacation club. HGV's 46 resorts are located in iconic vacation destinations such as the Hawaiian Islands, New York City, Orlando and Las Vegas, and feature condominium-style accommodations with superior amenities and quality service. Following completion of the spinoffs, Hilton will continue to be led by the current president and chief executive officer (CEO), Christopher J. Nassetta. Mark Wang, Executive Vice President of Hilton and President, Hilton Grand Vacations since March 2008, will serve as President, Chief Executive Officer and a Director of HGV. "Hilton Grand Vacations' Board of Directors will comprise accomplished business leaders with lodging industry, general business and governance experience to help guide HGV as an independent company," said Christopher J. Nassetta, president and CEO, Hilton. Mr. Wang added, "Our directors' experience and knowledge will support HGV's long-term growth strategy and leadership in the vacation ownership industry. I look forward to working with the Board to deliver long-term value to our team members, owners and shareholders." HGV's Board of Directors is expected to include the following individuals. No changes to Hilton's Board of Directors are anticipated as a result of the transactions. Following the previously announced equity investment by HNA Group in Hilton, HNA Group will maintain both its stockholders agreement and equity in HGV upon completion of the transaction, which is expected to close in the first quarter of 2017. Brenda J. Bacon Ms. Bacon is the president and CEO of Brandywine Senior Living, and was president and CEO of Brandywine Senior Care, the predecessor company she co-founded in 1996. Earlier in her career, she served as chief of management and planning under New Jersey Governor James Florio. Ms. Bacon currently serves on the Board of FTI Consulting. She is also a member of the Board of Argentum (formerly the Assisted Living Federation of America) and of Rowan University.