CEO Katie Taylor leaves Four Seasons
Feb 5, 2013, 9:56 am
#1
Original Poster
Join Date: Aug 2007
Location: Here there and everywhere
Posts: 6,303
Feb 5, 2013, 12:16 pm
#5
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Location: IAD/DCA
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"nine-member Executive Leadership Team" incl sharp even though hes not exec
mentions triples 3 times, linking to sharp 3rd time, even though he only owns 5%
http://www.eyeofriyadh.com/news/deta...collaborations
http://www.saudigazette.com.sa/index...20130203151657
http://www.arabnews.com/alwaleed-bil...projects-savoy (mentions previous meetings)
http://press.fourseasons.com/news-re...eo-transition/
back when taylor was promoted to replace sharp as CEO >
(working link - http://www.theglobeandmail.com/repor...rticle1373838/)
jun 2010 - sharp out of exec position, taylor promoted
jun 2011 - fitzgibbon "retired"
end 2012 - scheduled end of fitzgibbon "advising"
feb 2013 - taylor out, no promotion announced
hmm
jul 2006 hengst "retired", taylor promoted, fitzgibbon promoted
nov 2006 public announcement of alwaleed/gates proposed buyout
(http://www.linkedin.com/pub/wolf-hengst/b/9b0/381)
previous threads >
http://www.flyertalk.com/forum/luxur...r-seasons.html
http://www.flyertalk.com/forum/luxur...inted-ceo.html
mentions triples 3 times, linking to sharp 3rd time, even though he only owns 5%
http://www.eyeofriyadh.com/news/deta...collaborations
http://www.saudigazette.com.sa/index...20130203151657
http://www.arabnews.com/alwaleed-bil...projects-savoy (mentions previous meetings)
February 03
Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC), met with Bill Gates, Co-Founder and Chairman of Microsoft and CEO, Cascade Investment, L.L.C and Co-Chair of the Bill & Melinda Gates Foundation, at The Savoy Hotel during the former’s visit to London.
The two discussed the latest economic developments, including topics related to KHC’s international investments such as its stake of 47.5 percent in the Four Seasons which is co-owned by Bill Gates’ Cascade with a 47.5 percent stake, and the remaining 5 percent owned by Isadore Sharp, Founder and Chairman of Four Seasons Hotels and Resorts.
Also, the two discussed future potential collaboration.
Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company (KHC), met with Bill Gates, Co-Founder and Chairman of Microsoft and CEO, Cascade Investment, L.L.C and Co-Chair of the Bill & Melinda Gates Foundation, at The Savoy Hotel during the former’s visit to London.
The two discussed the latest economic developments, including topics related to KHC’s international investments such as its stake of 47.5 percent in the Four Seasons which is co-owned by Bill Gates’ Cascade with a 47.5 percent stake, and the remaining 5 percent owned by Isadore Sharp, Founder and Chairman of Four Seasons Hotels and Resorts.
Also, the two discussed future potential collaboration.
February 5
Four Seasons Hotels Announces CEO Transition
Four Seasons Hotels Announces CEO Transition
http://www.ctv.ca/generic/generated/...le1617050.html
private equity backers are pushing for a CEO who can “take the company to the next level,” said an investment banker with ties to Four Seasons’ owners. Mr. Gates’ personal holding company, Cascade Investment LLC, is said to be the strongest advocate for the transition.
jun 2010 - sharp out of exec position, taylor promoted
jun 2011 - fitzgibbon "retired"
end 2012 - scheduled end of fitzgibbon "advising"
feb 2013 - taylor out, no promotion announced
hmm
jul 2006 hengst "retired", taylor promoted, fitzgibbon promoted
nov 2006 public announcement of alwaleed/gates proposed buyout
(http://www.linkedin.com/pub/wolf-hengst/b/9b0/381)
previous threads >
http://www.flyertalk.com/forum/luxur...r-seasons.html
http://www.flyertalk.com/forum/luxur...inted-ceo.html
Last edited by Kagehitokiri; Feb 5, 2013 at 12:56 pm
Feb 5, 2013, 1:53 pm
#6
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Join Date: Jan 2005
Location: VCE
Posts: 14,165
With the company for a very long time and COO since 2007.
Not sure what happened however most likely friction with the newer company owners.
I have not liked the general direction of 4 Seasons in the last few years but dont know if this is a blame of the CEO or individual hotel owners?
Globe and Mail has a fairly detailed article today.
Shame if the very impressive Sharp legacy doesnt stand the test of time.
Not sure what happened however most likely friction with the newer company owners.
I have not liked the general direction of 4 Seasons in the last few years but dont know if this is a blame of the CEO or individual hotel owners?
Globe and Mail has a fairly detailed article today.
Shame if the very impressive Sharp legacy doesnt stand the test of time.
Feb 5, 2013, 2:38 pm
#7
Join Date: May 2009
Location: Zurich, Switzerland
Posts: 185
Wow big news, wonder what is the direction FS is taking now? Slowing down on development or increasing it? To me it feels like FS has lately started to expand too fast into destinations that are not FS like at all...
Feb 5, 2013, 3:55 pm
#8
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Location: IAD/DCA
Posts: 31,797
The meeting was attended by Isadore Sharp
Feb 5, 2013, 6:36 pm
#9
Join Date: Dec 2007
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Article in The Globe and Mail - http://www.theglobeandmail.com/globe...rticle8254572/
From the article:
No one at the company would comment on the change Tuesday. Employees at the company’s Toronto headquarters, where Ms. Taylor often ate lunch in the cafeteria alongside her staff, were surprised by the news when they arrived to work, and the announcement was handled by a New York public relations agency rather than by the company’s internal communications team.
From the article:
No one at the company would comment on the change Tuesday. Employees at the company’s Toronto headquarters, where Ms. Taylor often ate lunch in the cafeteria alongside her staff, were surprised by the news when they arrived to work, and the announcement was handled by a New York public relations agency rather than by the company’s internal communications team.
Feb 5, 2013, 7:01 pm
#10
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For more information, please contact:
Robin Weinberg or David Reno
+1 212 687 8080
Robin Weinberg or David Reno
+1 212 687 8080
http://www.sardverb.com/david-reno/
http://www.sec.gov/Archives/edgar/da...8/ny568324.htm
FAIRMONT ANNOUNCES AGREEMENT TO BE ACQUIRED BY KINGDOM HOTELS AND COLONY CAPITAL
For Fairmont:
U.S. Media
Sard Verbinnen
For Fairmont:
U.S. Media
Sard Verbinnen
http://lhonline.com/development/mana..._seasons_0610/
In 2007, after Hengst retired, Taylor became president and chief operating officer, a newly created position, and became the only person reporting directly to Sharp. All other executives reported to Taylor
jan 1 2007, after alwaleed/gates announcement, before signing in feb 2007
hengst was "President of Worldwide Operations"
taylor ~3.5 years in above position before CEO
fitzgibbon "advised" for about 1.5 years
when fitzgibbon retired they created 2 president and 1 executive vice president positions (aug 1 2011)
http://www.luxurytraveladvisor.com/l...r-seasons-5945
http://www.flyertalk.com/forum/luxur...st-retire.html >
Last edited by Kagehitokiri; Feb 6, 2013 at 5:58 pm
Feb 5, 2013, 7:12 pm
#11
Join Date: Jul 2010
Location: Mem
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Posts: 984
Feb 5, 2013, 8:16 pm
#12
Join Date: Nov 2007
Posts: 2,946
With the company for a very long time and COO since 2007.
Not sure what happened however most likely friction with the newer company owners.
I have not liked the general direction of 4 Seasons in the last few years but dont know if this is a blame of the CEO or individual hotel owners?
Globe and Mail has a fairly detailed article today.
Shame if the very impressive Sharp legacy doesnt stand the test of time.
Not sure what happened however most likely friction with the newer company owners.
I have not liked the general direction of 4 Seasons in the last few years but dont know if this is a blame of the CEO or individual hotel owners?
Globe and Mail has a fairly detailed article today.
Shame if the very impressive Sharp legacy doesnt stand the test of time.
Feb 6, 2013, 7:09 am
#14
Original Poster
Join Date: Aug 2007
Location: Here there and everywhere
Posts: 6,303
Honestly, I don't know! Katie was either pushed or she jumped or she has domestic issues/health issues which forced her to quit. Nobody at FS is saying anything.
What surprises me is that they are looking outside the company for a replacement. Four Seasons has always promoted from within the company, yet now they are talking to an executive search firm. This smacks of owner involvement - maybe Bill Gates's people. Hopefully Prince Alwaleed is more knowledgeable about hotels, but you never know.
If they install a business exec in the role instead of someone who has long-term understanding of the high-end hotel business, then I think it will be a disaster. FS needs someone with hotel expertise as well as financial expertise. Issy is a hard one to beat.
What surprises me is that they are looking outside the company for a replacement. Four Seasons has always promoted from within the company, yet now they are talking to an executive search firm. This smacks of owner involvement - maybe Bill Gates's people. Hopefully Prince Alwaleed is more knowledgeable about hotels, but you never know.
If they install a business exec in the role instead of someone who has long-term understanding of the high-end hotel business, then I think it will be a disaster. FS needs someone with hotel expertise as well as financial expertise. Issy is a hard one to beat.
Feb 6, 2013, 7:31 am
#15
Join Date: Jul 2010
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Posts: 984
I agree that it would be a total disaster if they hire a business exec with no experience in the industry. It is very strange that they have hired an executive search firm to find a CEO. That does not bode well at all.