Marriott International Inc. MAR 3.21% Chief Executive Arne Sorenson will reduce his schedule over the next few months to allow for a more demanding treatment for pancreatic cancer, leaving day-to-day operations to lieutenants, the company said.
The hotel chain in 2019 disclosed that Mr. Sorenson, 62 years old, had been diagnosed with the illness and was starting treatment. Mr. Sorenson, who remains president, CEO and a board member, will be “directing the company to the extent practical,” Marriott said Tuesday.
Stephanie Linnartz, the group president for consumer operations, technology and emerging businesses, will oversee Marriott’s international lodging division, as well as legal, human resources, communications and public affairs, the Bethesda, Md.-based company said. Tony Capuano, the group president for global development, design and operations services, will be in charge of the company’s U.S. and Canada lodging division and finance, it added. Both executives are assuming additional responsibilities on top of their current jobs.
“While I have worked throughout my treatment to date and plan to remain as engaged in the business as my health allows, the right thing to do for me, my family and the company is to focus on my health,” Mr. Sorenson said. He said his treatment is being handled at Johns Hopkins.
Mr. Sorenson led the acquisition of Starwood Hotels & Resorts Worldwide in September 2016, creating a hotel giant with a presence in 130 countries and territories. The company has 30 hotel brands, including Sheraton, Ritz-Carlton, Westin, Le Méridien, Courtyard and Aloft.
Mr. Sorenson started serving in his role in 2012, becoming Marriott’s third CEO. He was previously the chief operating officer and held several positions since joining Marriott in 1996.
Marriott, which has a portfolio of more than 7,500 properties, returned to profitability for the September quarter as it reduced costs and travel demand improved from lows earlier in the Covid-19 pandemic.
The company is due to report fourth-quarter results Feb. 18. Analysts polled by FactSet expect Marriott to post earnings of 4 cents a share, compared with 85 cents a share in the same period a year earlier. Revenue is estimated to fall to $2.42 billion from $5.37 billion.
—Robb M. Stewart contributed to this article.
Write to Dave Sebastian at [email protected]
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