Marriott International, Inc. (NYSE:MAR) today announced that its board of directors has elected two new members, effective today: George Muñoz, former president of the Overseas Private Investment Corporation (OPIC), and John W. Marriott III, executive vice president of sales and marketing at Marriott.
Mr. Muñoz is currently principal in the Muñoz Investment Banking Group, LLC, of Arlington, Va., a firm focused on emerging markets. He served as president and chief executive officer of OPIC from 1997 until early 2001. OPIC is a U.S. government agency that facilitates the participation of private U.S. capital in the economic development of emerging market economies. During his tenure, Mr. Muñoz was a strong proponent of free trade.
J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said, “George Muñoz will bring a deep understanding of international business management and an invaluable outlook on the value of cross-border commerce to our board, both highly important to Marriott as we accelerate our global growth.”
Prior to his appointment to OPIC, Mr. Muñoz was the chief financial officer and assistant secretary for management at the U.S. Treasury Department, after having managed GM&A International Attorneys & Business Counselors of Chicago, a corporate law firm he established in 1989. Earlier, Mr. Muñoz was a partner working on international tax and business matters at the Chicago law firm of Mayer, Brown & Platt.
Mr. Muñoz has served on the President’s National Partnership Council, the Chicago Board of Education, the Chicago Economic Development Commission, and the Illinois International Port Authority. A certified public accountant, he received a B.B.A. in accounting from the University of Texas. He received his J.D. from Harvard Law School, and a Master of Laws in taxation from DePaul University. He also holds an M.A. in public policy from Harvard’s Kennedy School of Government.
John W. Marriott III fills the board seat vacated in May by Richard Marriott. At least two members of the Marriott family have been represented on the board since the original company, founded by the family, became public in 1953.
Mr. Marriott has had significant leadership experience both at corporate headquarters and in the company’s field operations. Currently, as executive vice president of sales and marketing, Mr. Marriott’s organization spans eight brands and nearly 2,500 hotels in 65 countries. He also is a member of the company’s growth committee. Prior to his current position, Mr. Marriott served as senior vice president for Marriott’s Mid-Atlantic Region, with operating responsibility for more than 300 hotels.
J.W. Marriott, Jr., said, “I am pleased that a new generation of the Marriott family is joining the board. John’s considerable operating and marketing experience will be particularly valuable in the current business environment.”
A native of Washington, D.C., John W. Marriott III is on the board of directors for the Washington Area Task Force, an oversight committee for Dulles International Airport and Reagan National Airport; co-chairman of the U.S. Department of Commerce/Japan Government Tourism Initiative; a member of the Ritz-Carlton Hotel Company Advisory Committee; and chief executive officer of JWM Family Enterprises. He is a graduate of the University of Utah with a B.S. in accounting with a minor in Japanese.
Marriott’s board has 11 members, eight of whom are independent, outside directors.