When I became the head of Marriott, in 1964, many people were surprised. Remember that I’m a reformed lawyer, so I came here without a deep knowledge of the lodging industry and without a clear career path. He didn’t have good people skills and didn’t understand the operation of the business. This is the full obituary where you can express condolences and share memories. Marriott CEO Arne Sorenson has joined the airlines in a pay cut, as the hotel industry revenues has been slammed as well. He obviously had deep insights into the hotel business, which he continues to offer as vice chairman of our board. If I’d followed my own heart, I probably would have chosen him as my successor. A $13 billion deal—the largest in the company’s history—for rival Starwood? But Arne is only 54, so it’s premature to think too deeply about who might succeed him. Prominent CEOs of public companies who think the Almighty is about more than the dollar. When I think of a litigator, I don’t see someone who’s putting his arm around people, coaching and counseling and loving them, supporting and promoting them. The case involved a lot of incredibly complicated financial details, and Arne helped me first to understand and then to explain them so that they sounded simple. But as time went on, I realized that it wasn’t the right fit—not for John, and not for Marriott. He currently oversees all our hotels in the eastern United States, from Maine to New Orleans. He’s put himself on record advocating for infrastructure investment, tax reform, LGBT rights, immigration, diversity—and simple decency (political and otherwise). In 2002 he joined our board. By most measures, Sorenson has enjoyed extraordinary success. Marriott partners with Sun Line, becoming the first lodging company to enter the cruise business. I haven’t. Did you receive guidance on how to develop in that area? Third, I didn’t like the notion of taking my expertise and going to work for a competitor. We’re going to be transparent with our customers. Necessary cookies are absolutely essential for the website to function properly. I recognized that Arne had great potential, but he didn’t have any experience in the operations side of the hotel business. He has tremendous potential, but at the moment, he is still learning. The process evolved naturally and over a long time, and it has actually felt fairly seamless. Tell me about your relationship with John Marriott. It’s been more than a year since Arne officially took over, and I’m quite happy with how the process has turned out. Arne is a real role model for all CEOs.”. In both circumstances, you’re bred first to listen. I don’t mean to sound immodest, but over the years I had inquiries from most of our global competitors about either their top job or a very senior job, and I never contemplated taking any of them. The 60-year-old Sorenson will continue to lead the company while he undergoes treatment. 3. As personally disappointing as that was to both of us, I had to make the right decision for the company. He’s often thoughtful, and he’s a good listener. Arne married Edith Irene Sorenson on month day 1917, at age 41 at marriage place , Ohio. After World War II, Sørensen was a member of the Danish Parliament and Minister of Ecclesiastical Affairs . John just shook his head and laughed. Do you agree with Bill Marriott, who says there’s a real benefit to having a family member in the CEO job in a family company? We really couldn’t confirm that anything was taken until November. But as he moved from running hotels to working at headquarters, he seemed less happy. He combines that with a firm and commanding leadership style. Bill Marriott admits that he worried about your people skills. My father was worried that I was too young, but Marriott was still small at the time—we had about $85 million in annual revenue—and I think he figured he’d be around long enough to bail me out if I got into trouble. “This issue has gotten far too politicized, which is a tragedy,” Sorenson said during the meeting. When you’re talking about the past few years for Marriott International and its CEO, Arne Sorenson, it may be easier to talk about what hasn’t happened than what has. The hotel represents a homecoming for us, myself and Arne Sorenson (CEO of Marriott International). It showed how proud of you he was and also shared 15 guideposts. On a recent drive on Maryland’s Eastern Shore, my daughter and I passed this scene. The prior deal would have been $1 billion. After all, I’d literally learned the business visiting restaurants with my father as a young boy, and I’d worked part-time in different jobs at the company since I was 14. It is just one of many polling places across the country. Sorenson—who spends some 200-plus days on the road each year—is also one of the most high-profile and outspoken CEOs today. But the more I looked at the situation, the more I realized that John is a natural-born entrepreneur. I don’t recall thinking of us as rivals until a Wall Street Journalstory appeared that described us that way. It is mandatory to procure user consent prior to running these cookies on your website. You also have the option to opt-out of these cookies. We had a senior director on our board who had been the chairman of three companies, and my father really relied on him. Marriott CEO Arne Sorenson said coronavirus 'is like nothing we've ever seen before' and is having a greater toll than World War II on the hotel industry, as he axed his salary to save the firm. I look at Ford Motor Company, which family members ran from its founding until 1979, when a series of nonfamily CEOs took over. We had a good relationship, and we still do. “The complexity and globality of his business—with a major acquisition—demonstrated his leadership,” said Bob Nardelli, CEO of XLR-8 and former CEO of Home Depot. That isn’t the life for him. Arne Sorenson was born in 1876, at birth place, to Arne Sorenson and Ellen Sorenson. This director came to think that the executive VP was the wrong choice, and he urged my father to make me CEO. My oldest son, Stephen, has a debilitating disease—he’s blind and mostly deaf. When I became the head of Marriott, in 1964, many people were surprised. Monday: son to Ramona and Arne Sorenson, New Town. And to be clear, I still consider Marriott to be a family-led firm. That’s especially true in this disruptive era.
To offer a short summary of “Clotel : Or The President’s Daughter” by William Wells Brown it should be noted that the author presents a number of complex characters who, even though they may be recognizable literary stereotypes of the period, have equally complex relationships to … If you have any question about this novel, Please don't … Overview. I was only 32 and had worked […]. Like all family members who have joined the company (including me), John started at the bottom, as a cook in the kitchen. This is an 85-year-old company that until 2012 had had only two CEOs, and our family’s involvement provides a great sense of continuity. In 1989, when I was 57, I suffered a heart attack, and I began to think a little more seriously about succession. John had worked here for 20 years before I arrived, and by that time he had a big job. There’s Airbnb, which is fast disrupting the travel business; the rise of anti-globalism, anathema to a company with hotels in 131 countries; and, of course, an endless series of highly public brushfires that come along with welcoming guests of every stripe, such as the LGBT community erupting in protest at the President of Brazil hosting an event at a Marriott in New York’s Times Square (he ultimately cancelled), to name just one. I have four children, and I had always hoped that one of them would succeed me as CEO, just as I succeeded my father. But I bounced back really quickly—I returned to work after six weeks—and I knew that I wanted to stay in the role for many years to come. We also use third-party cookies that help us analyze and understand how you use this website. Total shareholder return? He spent most of his adult life preparing to succeed me as CEO. That’s not all. So that was a concern. Dan Bigman is Editor and Chief Content Officer of Chief Executive Group, publishers of Chief Executive, Corporate Board Member, ChiefExecutive.net, Boardmember.com and StrategicCFO360. Some of them were probably viewed as potential successors, but I was in no hurry to give up the job. The family helps engender a kind of loyalty. He doesn’t have the temperament to run a company the size of Marriott today, with 3,800 properties and 18 brands. Earlier today, President and CEO Arne Sorenson shared this message w... ith Marriott International associates regarding the events at the U.S. Capitol yesterday. In turn, this gave them the pluck to advise the CEO on which direction the company needed to go and how it will get there. Chief Executive’s publications are designed to help CEOs do their jobs better and run their businesses more effectively. Beyond his performance, the most important thing Arne did during those years was develop his people skills. Arne lived in 1920, at address , … Our associates view their connection with Marriott in a way that’s deeper than if the family weren’t involved. My daughter, Debbie, is the mother of five, and although she worked at Marriott as a teenager, she stayed home with her kids for three decades. 154 percent versus 60 percent for the S&P 500. We brought him in to head our mergers and acquisitions team. The group “call[ed] on Mr. Sorenson to meet with members of Organization United for Respect at Walmart (OUR Walmart) and to ask Walmart board chair Rob Waltonand CEO Mike Duke to do th… While I was leading the company, I often had several experienced nonfamily executives working with me. He was obviously very smart and articulate. I care too much about Marriott, which has been my life’s work, to make a risky choice. But he was a micromanager. But in my experience, fears about retention are overblown: If you treat people well, they’ll want to stay. What follows is edited for length and clarity: It starts with a great team. A cyberhack that resulted in unauthorized access to hundreds of thousands of customers’ data—and acres of painful headlines? 1969. Almost none of these things do you face alone. HBR asked him to reflect back on the succession process. CEO Arne Sorenson is optimistic, even as he prepares for surgery to treat his pancreatic cancer. But as time went on, Bill Marriott realized that it wasn’t the right fit—for either John or the company. John performed very well in all those roles. My son John devoted his heart and soul to learning the business. As expected, Sorenson replaced him, becoming the first non-family member to head Marriott. In all, John spent three decades at Marriott. If you believe the conventional wisdom about family businesses—that talented nonfamily executives won’t stick around, because they feel they have little chance of being promoted to the most senior jobs, which are reserved for family members—you’d think he would have been pretty excited about those opportunities. So in 2005 John became vice chairman of the board and left his executive position at the company. Financial officer, let alone having a job higher than that years older than I was leading company. S publications are designed to help CEOs do their jobs better and run businesses... Ceo Arne Sorenson, who eventually succeeded me, in 1993 m built work, Arne... I worry that too many businesses today have become depersonalized: son to Katie Brandon...: it starts with a pile of scrap cedar even as he prepares for to... For decades Bill Marriott expected that his son would become the third generation to lead the global hotel company executive. 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