La Quinta Corporation (NYSE: LQI) announced today that Stephen E. Merrill, former Governor of the State of New Hampshire, who has served as a director of La Quinta Corporation and La Quinta Properties, Inc. has tendered his resignation to the Boards of Directors of these companies.
“My resignation comes as I seek to reduce the number of professional commitments I maintain,” said Mr. Merrill. “With the improvements made at La Quinta over the past several years, I believe the company is well-positioned for the future.”
“Since joining the Boards in 1998, Governor Merrill has been a strong contributor in shaping the turnaround of La Quinta,” said Francis W. (“Butch”) Cash, President and Chief Executive Officer. “He has added tremendous value to the company, serving on both the Compensation and the Nominating and Corporate Governance Committees and enlightening the Board with his unique perspective and experience. We thank Governor Merrill for his years of dedicated service to La Quinta and wish him well.”
Following Mr. Merrill`s resignation, there are six members on the La Quinta Boards of Directors, five of whom are independent. La Quinta has retained a search firm to assist it in locating a new director to serve the remaining portion of Mr. Merrill`s term.
About La Quinta Corporation -
Dallas-based La Quinta Corporation (NYSE: LQI), a leading limited service lodging company, owns, operates or franchises over 350 La Quinta Inns and La Quinta Inn & Suites in 33 states. Today`s news release, as well as other information about La Quinta, is available on the Internet at www.LQ.com.