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Published on : Wednesday, May 13, 2015
Marriott International, Inc. announced that Ambassador Susan Schwab was elected director at the company’s Annual Meeting of Shareholders on Friday. Ambassador Schwab fills the vacancy created by the retirement of Harry Pearce after 20 years of service.
Ambassador Schwab served as U.S. Trade Representative in the Bush Administration from June 2006 to January 2009, and as Deputy Trade Representative from October 2005 to June 2006. She is currently a professor at the School of Public Policy at the University of Maryland, and a strategic advisor to Mayer Brown, LLP. Ambassador Schwab also serves on the boards of The Boeing Company, Caterpillar Inc., and FedEx Corporation.
“Ambassador Schwab brings with her a unique set of skills and experience that will be invaluable to the Board,” said J.W. Marriott, Jr., executive chairman and chairman of the board of Marriott International. “Her trade and public policy expertise will strengthen our planning as we continue our rapid global expansion.”
Ambassador Schwab’s election increases the representation of women directors on the Marriott board to approximately 36 percent (4 of 11). According to Catalyst,women comprise 19.2 percent of board membership at S&P 500 companies, and the companies ranked in DiversityInc’s Top 50, which include Marriott International, have on average 25 percent of board seats filled by women.
Mr. Pearce, former executive vice president and general counsel at General Motors, U.S. Magistrate, and chairman of MDU Resources Group, provided two decades of instrumental guidance to the company. This counsel included such matters as the acquisition of Renaissance Hotels and The Ritz-Carlton Hotel Company, as well as launching new brands such as SpringHill Suites and TownePlace Suites.
“Through his wise counsel over numerous transitions during his tenure, our company is a better one today because of Harry Pearce,” said Mr. Marriott.
Marriott International, Inc. is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands.