Four Seasons Hotels CEO steps down
06 February 2013 10:00 GMT
Four Seasons Hotels and Resorts CEO Kathleen Taylor has announced that she is stepping down from her position at the forefront of the company.
Taylor, who assumed the role of CEO from the brand’s founder Isadore Sharp in 2010, has worked for the company for almost 25 years. During her tenure the group has quadrupled in size, increased its global footprint from three countries to operations in 37 countries, and established partnerships with over 100 international hotel owners and developers.
"I am deeply grateful to Katie for her nearly 25 years of outstanding service and wish her well in the next phase of her career,” said Sharp, who will remain Chairman and shareholder of the group. "Katie has been a trusted colleague and fundamental to building Four Seasons into the admired and successful company it is today.
“She leaves us with a strong foundation for the future and we remain firmly committed to leadership in luxury hospitality and accelerating our goals for long-term growth. Katie embodied Four Seasons values in all that she has done.”
Taylor, the first woman ever to receive the Corporate Hotelier of the World, has received numerous accolades throughout her career, including the Cornell University Hospitality Innovator and being an inductee to the Marketing Hall of Fame.
“Throughout my almost quarter century with Four Seasons the one constant has been the power of the employees - they have always been my inspiration,” she said.
“I am also immensely proud of the members of my Executive Leadership Team and going forward, it is they, along with the nearly 40,000 employees who will fulfil the vision that we have put in place together, driving the future success of the company.
“It has been a pleasure to get to know so many loyal Four Seasons guests, customers and residential owners around the world.”
Four Seasons’ long-term shareholders Kingdom Holding Company, Cascade Investment and Triples Holdings, have spoken of their commitment to driving the brand forward in light of the news.
“Our long-term commitment to Four Seasons has not changed,” said His Royal Highness Prince Alwaleed Bin Talal, Chairman of Kingdom Hotels International. “We are confident that we can quickly identify a successor to Katie who shares Four Seasons vision and values and that the Company’s strong Executive Leadership Team, which has the full support of the shareholders, will provide the leadership and continuity necessary to guide us through a seamless transition.
“We see more opportunity today than ever before.”
“We have great confidence in the Company's outstanding executive leadership and worldwide operations teams," said Michael Larson, Chief Investment Officer of Cascade Investment. "Together with Kingdom and Triples, we are committed to achieving the long term strategic vision that has been established for Four Seasons."
Four Seasons has initiated a search for Taylor’s successor. In the interim, Four Seasons nine-member Executive Leadership Team will manage the company with oversight from the company’s Board.