Extended Stay Hotels® announced today that the Board of Directors has elected Jim Donald to replace Gary DeLapp as Chief Executive Officer, effective immediately.
Mr. Donald served as President and Chief Executive Officer of Starbucks Corporation, the world’s #1 specialty coffee retailer, before stepping down in 2008. Mr. Donald joined Starbucks in 2002 as President of Starbucks North America where he managed operations for all Starbucks stores in the U.S. and Canada. During his tenure, Starbucks enjoyed record growth, including five straight years of 20%+ annual earnings increases. Most recently, Mr. Donald served as President and Chief Executive Officer of Haggen, Inc., the Pacific Northwest’s largest independent grocer.
Prior to Starbucks, Mr. Donald had a series of successful leadership roles in the grocery industry. After more than fifteen years as an executive at Albertson’s, Mr. Donald led Wal-Mart into the grocery business. In less than four years, Mr. Donald grew Wal-Mart Supercenters from 0 to 148 stores, positioning the company to become the #1 grocer in the United States. Following Wal-Mart, Mr. Donald spent several years at Safeway before serving as Chairman and Chief Executive Officer of Pathmark Stores, a business he successfully reorganized and took public before joining Starbucks.
Board Chairman of Extended Stay Hotels, Doug Geoga said, “We are very grateful to Gary DeLapp for his dedicated service to the Company over the last 15 years. He has led Extended Stay Hotels through its most difficult challenges and positioned the company for continued success in the future.”
“At the same time, the Board is delighted to welcome Jim to the Company as we focus on successfully implementing our strategic initiatives and taking advantage of the market opportunities ahead. Jim is a proven leader with strong operational skills, a customer-oriented focus, and powerful insights that will help drive profitable growth across the Company’s portfolio. Jim joins Extended Stay Hotels at a very exciting time and the Board is confident the Company will flourish under his direction.”
Jim added, “I look forward to joining the team and am delighted to have the opportunity to serve the customers, employees and shareholders of Extended Stay Hotels. We have the people, the assets and the opportunities to take advantage of our market leading position and accelerate the Company’s recent growth in the years ahead.”