- Push-out Score determined
- After about 11 years in the position
- Praise and thanks for Weisz
- John Geller taking over
- Weisz spoke at length and said 144 words
(exechange) — Orlando, Florida, June 9, 2022 — Steve Weisz, chief executive of Marriott Vacations, leaves his post. His departure is made public at an early stage. As announced by Marriott Vacations Worldwide Corp. in a news release and in a regulatory filing published on Thursday, June 9, 2022, Stephen P. (Steve) Weisz leaves his post as chief executive officer at the vacation company, after about 11 years in the role, effective December 31, 2022.
Steve Weisz’s duties as CEO will be taken over by John E. Geller, currently President at Marriott Vacations Worldwide Corp.
“The next natural step for John”
Marriott Vacations did not give an explicit reason for Steve Weisz’s departure from the CEO post. Marriott Vacations said: “The forthcoming appointment to Chief Executive Officer in 2023 is the next natural step for John, who has served as the company’s President since 2021 with oversight over the Vacation Ownership, Finance & Accounting, Human Resources, and IT functions. He previously served as the company’s Chief Financial Officer. Prior to that, he worked for Marriott International in various senior roles supporting North America Lodging Operations and Internal Audit.”
Precise information regarding Steve Weisz’s future plans was not immediately available.
Marriott Vacations said: “[A]fter 50 years of dedicated service in the hospitality and travel industry, Stephen P. Weisz informed the company’s Board of Directors of his intent to retire as Chief Executive Officer at the end of the company’s fiscal year on December 31, 2022.”
Marriott Vacations further said: “Stephen P. Weisz has decided to retire as the Company’s Chief Executive Officer at the end of the Company’s fiscal year on December 31, 2022. Mr. Weisz, however, will remain as an advisor to assist in the transition through February 17, 2023.”
Share price increase since June 2019
The announcement follows an increase in Marriott Vacations Worldwide Corp.’s share price of 70% since June 2019.
In the position of CEO since 2011
Steve Weisz became CEO of the Company in 2011.
Weisz has served as the Company’s Chief Executive Officer since 2011, and served as the Company’s President from 1996 until 2021.
Weisz joined Marriott International in 1972.
Over his 39-year career with Marriott International, he held a number of leadership positions in the Lodging division, including Regional Vice President of the Mid-Atlantic Region, Senior Vice President of Rooms Operations, and Vice President of the Revenue Management Group.
Weisz became Senior Vice President of Sales and Marketing for Marriott Hotels, Resorts & Suites in 1992 and Executive Vice President-Lodging Brands in 1994.
He has previously served as Chairman of the Board of Directors of the American Resort Development Association and as Chairman of the Board of Trustees of Children’s Miracle Network.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Steve Weisz’s move on a scale of 0 to 10.
exechange reached out to Marriott Vacations and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2022 ($).