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ITT SHERATON CORPORATION NAMES NEW CHIEF FINANCIAL OFFICER AND ANNOUNCES THREE OTHER EXECUTIVE ELECTIONS

 BOSTON, March 1 /PRNewswire/ -- ITT Sheraton Corporation today named Michael Cryan Executive Vice President and Chief Financial Officer, and announced three other senior executive elections, according to John Kapioltas, chairman and chief executive officer.
 Robert F. Cotter was elected executive vice president, ITT Sheraton, director of marketing and product management; James P. Smith was elected executive vice president, ITT Sheraton, director, administration; and Richard M. Hartman was elected senior vice president, ITT Sheraton, president, North America Operations.
 Cryan reports to Kapioltas and replaces Robert A. Bowman as chief financial officer. Bowman was named executive vice president and chief financial officer of ITT Corporation, ITT Sheraton's parent company, last September.
 Cryan will oversee the company's worldwide financial and development departments and activities in his new position.
 Most recently Cryan was vice president, ITT Sheraton, and director of acquisitions and owner relations. He joined ITT Sheraton in 1986 as assistant comptroller, operations.
 "After reviewing prospective internal and external candidates, Mike emerged as the clear choice to serve as the company's chief financial officer," said Kapioltas.
 "His management role in directing last year's seven-property acquisition from Marriott Corporation and leadership in other significant achievements have demonstrated his abilities and fortified his credentials," Kapioltas added.
 "Mike's election, along with those of Bob Cotter, Richard Hartman and Jim Smith, identifies the headquarters-based senior management team with which John Giovenco and I will work closely to lead the company," said Kapioltas.
 Last month, ITT Corporation announced that Giovenco will join ITT Sheraton in March as president and chief operating officer, reporting to Kapioltas. Giovenco was most recently president - Nevada Gaming Division, Hilton Hotels Corporation.
 Robert F. Cotter was elected executive vice president, ITT Sheraton, director, marketing and product management. Cotter will report to Giovenco. Cotter's sales and marketing experience includes 18 years with ITT Sheraton in various parts of the world. He has been senior vice president, ITT Sheraton, director of marketing and product management since 1991. In 1992, Cotter was named by Business Travel News as one of the 25 Most Influential Executives in the Business Travel Industry.
 James P. Smith was elected executive vice president, ITT Sheraton, director administration. Smith reports to Kapioltas. He joined ITT Sheraton in 1990 as senior vice president, ITT Sheraton, director, administration after a 17-year career with ITT Corporation. Smith's career has included assignments in a number of sector of ITT Corporation.
 Richard M. Hartman was elected senior vice president, ITT Sheraton and president, North American Operations. Hartman will report to John Giovenco. Hartman has served in several management and executive positions around the world during his 24-year career with ITT Sheraton. Most recently, Hartman was senior vice president, ITT Sheraton, director, operations, North American Division.
 "ITT Sheraton's mission to be the leading hospitality company will be shaped by our management team and the people we direct," said Kapioltas.
 "We believe that our position will be strengthened around the world by the rich scope of experience and the strong level of expertise each team member delivers to the company," he added.
 Boston-based ITT Sheraton Corporation, a subsidiary of ITT Corporation, is a worldwide lodging company with more than 400 owned, leased, managed and franchised properties including 292 luxury and upscale hotels, resorts and all-suites and 125 mid-priced inns in 61 countries.
 -0- 3/1/93 R
 /CONTACT: Dolores Sanchez of ITT Sheraton, 617-367-5481/


CO: ITT Sheraton ST: Massachusetts IN: LEI SU: PER

TM-DJ -- NE019R -- 1683 03/01/93 18:44 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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