Printer Friendly

W.J. SHAW NAMED PRESIDENT OF MARRIOTT SERVICE GROUP AFTER RESIGNATION OF F.W. CASH

 W.J. SHAW NAMED PRESIDENT OF MARRIOTT SERVICE GROUP
 AFTER RESIGNATION OF F.W. CASH
 WASHINGTON, Feb. 10 /PRNewswire/ -- Marriott Corporation (NYSE: MHS) announced today that F.W. "Butch" Cash has resigned as president of the Marriott Service Group and as an executive vice president of Marriott Corporation. The company said that William J. Shaw, executive vice president and chief financial officer of Marriott Corporation, will replace Cash.
 Assuming the position of chief financial officer will be Stephen F. Bollenbach, who also will be named an executive vice president of Marriott Corporation. Bollenbach served as Marriott's senior vice president, finance and treasurer from 1982 to 1986. The company said that the new assignments for Shaw and Bollenbach are effective immediately.
 J.W. Marriott Jr., chairman and president of Marriott Corporation, said: "Bill Shaw is an 18-year veteran with the company. He has done an outstanding job in managing our financial restructuring during the past two years, and has the experience and personal qualities to be an effective operations executive. I am confident that he will do a great job in this new role," Marriott stated. "Steve Bollenbach brings to our company a wealth of knowledge and experience that will help us to deal with the financial challenges facing us in the years ahead," he added.
 "More than a year ago," Marriott said, "Butch Cash spoke to me of his interest in seeking a position outside Marriott with broader responsibilities than were provided to him here. The company's circumstances at that time, however, demanded our most experienced and able management team to bring about major reductions in our capital expenditures and operating expenses, renewed marketing efforts and new programs in quality improvement," he said. "Because of that, Butch agreed to remain with Marriott and give us his full time and energy."
 Marriott said the company's financial circumstances now are much improved, and that he and Cash have agreed that Cash will leave the company to pursue executive opportunities outside Marriott. "He did not feel it was consistent with his obligation to me, the company and the people in his group to do so while remaining a Marriott employee," Marriott explained. "Butch Cash has made outstanding contributions to our company's growth in his 18 years of service," added Marriott. "I wish him every success in the years ahead."
 William J. Shaw, 46, brings broad experience in corporate finance to his new assignment, and has worked closely with Marriott's operations in their planning, controls, acquisitions and project finance. Shaw was appointed Marriott's chief financial officer and an executive vice president in April 1988. He served as senior vice president, finance and treasurer from 1986 to 1988. Previous assignments included senior vice president, finance-planning and control, and vice president and corporate controller.
 Before joining Marriott in 1974, Shaw worked for Arthur Andersen & Co. in Washington. He holds a BBA degree from the University of Notre Dame and an MBA from Washington University, St. Louis. He is a director of Caterair International, Potomac, Md., and a director of The Freedoms Foundation, Valley Forge, Pa.
 Stephen F. Bollenbach, 49, rejoins Marriott from The Trump Organization, New York, where he served as chief financial officer since mid-1990. From 1986 to 1990, he was executive vice president and chief financial officer of Holiday Corporation, where he was responsible for the company's financial restructuring, which included the sale of the Holiday Inns division to Bass plc and led to the creation of The Promus Companies.
 Before coming to Marriott in 1982, he served as chairman and chief executive officer of Southwest Savings and Loan Association, Phoenix, and previously spent 12 years as a senior executive with the Ludwig Group, a New York-based firm involved in shipping, real estate and finance. Bollenbach holds bachelor's and master's degrees, respectively, from the University of California-Los Angeles and California State University-Northridge.
 Marriott Corporation is a diversified hospitality company involved in lodging and contract services, with total sales of $8.3 billion in 1991. The Marriott Service Group operations include food and facilities management for business, education and health care institutions; food, beverage and merchandise concessions for airports and turnpikes; and retirement communities. The group had 1991 sales of $3.9 billion.
 -0- 2/10/92
 /CONTACT: Robert T. Souers of Marriott Corporation, 301-380-1339/
 (MHS) CO: Marriott Corporation ST: District of Columbia IN: LEI SU: PER


TW -- DC009 -- 8164 02/10/92 09:38 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 10, 1992
Words:731
Previous Article:SCHUSTER JOINS ALBA-WALDENSIAN AS COO
Next Article:FORD MOTOR COMPANY TO UNVEIL 1993-MODEL FORD PROBE AND FORD ESCORT
Topics:


Related Articles
MARRIOTT TO BECOME TWO COMPANIES THROUGH SPECIAL DIVIDEND
MARRIOTT CORPORATION FORECASTS 1992 RESULTS, PRO FORMA RESULTS FOR MARRIOTT INTERNATIONAL
BOLLENBACH RESIGNS FROM HOST MARRIOTT TO TAKE SENIOR POST AT DISNEY
HOST MARRIOTT CORPORATION TO SPIN OFF AIRPORT AND TOLLROAD CONCESSIONS BUSINESS
RED ROOF INNS APPOINTS INDUSTRY VETERAN TO PRESIDENT, CEO POST
HOST MARRIOTT NAMES PARSONS CHIEF FINANCIAL OFFICER, LAPORTA SENIOR VICE PRESIDENT AND TREASURER, AS HART ANNOUNCES PLANS TO JOIN DISNEY
HOST MARRIOTT ISSUES SPECIAL DIVIDEND, COMPLETING SPLIT INTO TWO COMPANIES
HOST MARRIOTT NAMES WARDINSKI SENIOR VICE PRESIDENT AND TREASURER, AS LAPORTA ANNOUNCES PLANS TO JOIN HILTON
HOST MARRIOTT NAMES RISOLEO AND FAIRBANKS TO ACQUISITION TEAM
Marriott International Names William W. McCarten President, Marriott Services Group.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters