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[merged] Marriott Vacations Worldwide Announces Leadership Changes, Appoints Matthew E. Avril as Interim President and CEO

Did they even announce John's departure? Seems not since John delivered the remarks in the investor call on Thursday.
This appointment follows John Geller’s departure as President and CEO of MVW and as a director of the Company.

At least the new guy comes from a hospitality background with Diamond, Starwood Hotels and even Vistana (pre MVW days).
 
The nails in Geller’s coffin, in my opinion:

1762785603830.png
 
I am not familiar with the Marriott CEO timeline but it appears the ousted John Geller was at MVCI for < 2 years. I say good riddance but a lot of the bad ideas coming to fruition now are the result of longer term changes that have occurred over a longer timeframe. Hopefully this is a reset but was the problem actually Geller? That is a legit question, I am asking what people think.
 
Wow. I know those Q3 results were brutal- but that was an abrupt change!
 
heathpack said:
I am not familiar with the Marriott CEO timeline but it appears the ousted John Geller was at MVCI for < 2 years. I say good riddance but a lot of the bad ideas coming to fruition now are the result of longer term changes that have occurred over a longer timeframe. Hopefully this is a reset but was the problem actually Geller? That is a legit question, I am asking what people think.
Click to expand...
2-years as CEO, he joined in 2005 and as Audit and Info Security officer he had his fingers deep in all the pies, as well as having been CFO.
 
Well, hopefully the new leadership is more successful. The press release posted by Hindsite shows Geller promoted to president in Jan of 2021, just about MVC peak market cap.
 
Not surprising the board felt a change was needed. The company’s trajectory was not good as the chart in post #4 shows. Ultimately CEO’s are judged by their stock’s performance and the chart tells the story for Geller.
 
I see news reports that Geller will receive 2 times his 2025 salary plus target bonus, totaling $6.3 million.
 
1Kflyerguy said:
I see news reports that Geller will receive 2 times his 2025 salary plus target bonus, totaling $6.3 million.
Click to expand...
Did he meet said target bonus? The bar must have been pretty low?
 
dioxide45 said:
Did he meet said target bonus? The bar must have been pretty low?
Click to expand...
I was wondering the same thing, or perhaps they had to or decided to just pay everything out to make him go quickly and quietly...
 
So is the Head of Hilton next?
 
WBP said:
This is the “Diamond” guy.

I saw this coming, months ago.
Click to expand...
This probably isn't fair. Avril was CEO of Diamond for all of two months and a few days.

If anything, he is more of a Starwood/Vistana person, which had a really decent product/value proposition back in the day. I always suspected he stepped down at Diamond once he realized he couldn't change the culture there.
 

Attachments

  • Marriott Vacations Worldwide Announces Upcoming Retirement of Brian E. Miller - Marriott Vacat...pdf
    1,016.1 KB · Views: 2
It was already mentioned in the other thread.
tugbbs.com

Marriott Vacations Worldwide 3Q Sales Decline; Stock Tanks

Interesting most of their sales are still flattish at all locations except Orlando and Maui. Maui was specifically mentioned as being 10% of all their sales. So people are still buying these abound points. They are trying to screen for higher-quality guests by FICO scores and have better...
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