Arne Sorenson has been elected to take over as chief executive officer of Marriott International.
Sorenson is presently president and chief operating officer, but will take over the top role when J W Marriott, Jr, steps down in March 2012.
Marriott will take the roles of executive chairman and chairman of the board, leaving Sorenson to become just the third chief executive in the 85 year history of the company.
The board also appointed Robert McCarthy, currently group president for the company, as chief operations officer.
All three appointments are effective March 31st, 2012.
[stock]MAR|1m|Right|Marriott stable after leadership change[/stock]
Making the announcement earlier Marriott, Jr, said: “As we approach the 85th birthday of our company in 2012 and I proudly celebrate my 60th year of service, I decided to recommend to the board that Arne Sorenson take over the chief executive responsibilities.
“I have been so fortunate to have worked with some of the most talented people in the world over the past six decades.
“Looking forward, one of my most important responsibilities is to work with our board of directors to ensure that we are best positioned to succeed in the future.
Following the announcement Sorenson added: “With deeply embedded core values that have enabled us to succeed for 85 years, I am looking forward to an exciting road ahead for Marriott International.”