Extended Stay America, Inc. Names New President And New Chief Financial Officer

Extended Stay America, Inc. (NYSE:ESA) announced today that Robert A. Brannon has been promoted from Chief Financial Officer (CFO) to President and Chief Operating Officer and Gregory R. Moxley has been promoted from Vice President-Finance to CFO.

As President, Mr. Brannon will oversee all operational functions of the Company. “Bob has been serving as the de facto President since last fall. During this time he has demonstrated his strong management capabilities in the operations area. Bob`s hands-on management style assures his involvement in every facet of the Company and he will leave no stone unturned in his effort to improve our operating performance, raise our levels of guest service and continue our strong profit growth,” said Mr. George D. Johnson, Chief Executive Officer, Extended Stay America, Inc.

Executive Officer, Extended Stay America, Inc.
  Mr. Brannon, 49, joined Extended Stay America, Inc. as the CFO in 1995 when the Company was founded. “Bob`s impact on the Company has been evident since day one and his strategic planning skills are demonstrated in the success we have enjoyed over the past five years. I look forward to even greater accomplishments in the future as Bob fully assumes his new role,” Mr. Johnson added.

Prior to joining Extended Stay America, Inc., Mr. Brannon was the Vice President-Finance for the domestic home video division of Blockbuster Entertainment Group where he was responsible for the financial management and control of more than 2,000 video stores.

Mr. Brannon was also the CFO for WJB Video and American Storage, LLC, where he was responsible for the financial aspects of development of more than 200 video stores and 23 self-storage facilities. Mr. Brannon also served as a Certified Public Accountant (CPA) in various management and staff positions with local and national accounting firms.

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“Bob and I have worked closely together for 15 years and during this time, he has earned my total faith, loyalty and confidence. Our business philosophies are perfectly aligned and we share a common vision for the Company, a vision that has been created together with the Company`s management team,” Mr. Johnson said.

Mr. Moxley, 45, became Controller of the Company in October 1995. He assumed the position of Vice President-Finance in January 1996 and has been responsible for the accounting, budgeting and financial reporting functions. As the Company`s new CFO, Mr. Moxley will be responsible for overseeing accounting procedures and controls, along with financial reporting and cash management.

“Gregg is a long-term employee with exceptional financial skills and an intimate understanding of our Company`s culture. We`re proud to promote him to CFO as his appointment will ensure the orderly and uninterrupted operation of our Company`s financial functions,” said Mr. Johnson.

Prior to his position at Extended Stay America, Inc., Mr. Moxley was Director of Financial Reporting and Assistant Treasurer for One Price Clothing Stores, Inc. and also held various positions as a CPA including Senior Manager for Ernst & Young.

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