Marriott Appoints New CFO, Kathleen Oberg
Ticker: MAR · Form: 8-K · Filed: 2024-08-12T00:00:00.000Z
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
Related Tickers: WH
TL;DR
Marriott names Kathleen Oberg as new CFO, starting Aug 12. Big shoes to fill!
AI Summary
On August 8, 2024, Marriott International, Inc. filed an 8-K report to disclose the appointment of Kathleen Oberg as Chief Financial Officer, effective August 12, 2024. Oberg previously served as Executive Vice President, Chief Financial Officer, and Treasurer of Wyndham Hotels & Resorts, Inc. She will receive an annual base salary of $750,000 and is eligible for various incentive programs.
Why It Matters
The appointment of a new Chief Financial Officer is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a new executive appointment and does not indicate any unusual financial distress or strategic shifts.
Key Numbers
- $750,000 — Annual Base Salary (Kathleen Oberg's compensation as CFO)
Key Players & Entities
- Marriott International, Inc. (company) — Registrant
- Kathleen Oberg (person) — Newly appointed Chief Financial Officer
- August 8, 2024 (date) — Date of Report
- August 12, 2024 (date) — Effective date of appointment
- Wyndham Hotels & Resorts, Inc. (company) — Previous employer of Kathleen Oberg
- $750,000 (dollar_amount) — Kathleen Oberg's annual base salary
FAQ
What is Kathleen Oberg's previous role?
Kathleen Oberg previously served as Executive Vice President, Chief Financial Officer, and Treasurer of Wyndham Hotels & Resorts, Inc.
When does Kathleen Oberg's appointment become effective?
Kathleen Oberg's appointment as Chief Financial Officer is effective August 12, 2024.
What is Kathleen Oberg's annual base salary?
Kathleen Oberg's annual base salary is $750,000.
What other compensation is Kathleen Oberg eligible for?
Kathleen Oberg is eligible for various incentive programs, including an annual cash incentive award and long-term equity awards.
Who is Kathleen Oberg replacing as CFO?
The filing does not explicitly state who Kathleen Oberg is replacing, but it is implied to be a transition in the CFO role.
From the Filing
0001193125-24-198910.txt : 20240812 0001193125-24-198910.hdr.sgml : 20240812 20240812162328 ACCESSION NUMBER: 0001193125-24-198910 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 20 CONFORMED PERIOD OF REPORT: 20240808 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240812 DATE AS OF CHANGE: 20240812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARRIOTT INTERNATIONAL INC /MD/ CENTRAL INDEX KEY: 0001048286 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 522055918 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13881 FILM NUMBER: 241197113 BUSINESS ADDRESS: STREET 1: 7750 WISCONSIN AVENUE CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: 3013803000 MAIL ADDRESS: STREET 1: 7750 WISCONSIN AVENUE CITY: BETHESDA STATE: MD ZIP: 20814 FORMER COMPANY: FORMER CONFORMED NAME: NEW MARRIOTT MI INC DATE OF NAME CHANGE: 19971023 8-K 1 d636446d8k.htm 8-K 8-K MARRIOTT INTERNATIONAL INC /MD/ false 0001048286 0001048286 2024-08-08 2024-08-08     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 8, 2024       MARRIOTT INTERNATIONAL, INC. (Exact name of registrant as specified in its charter)       Delaware   1-13881   52-2055918 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   7750 Wisconsin Avenue , Bethesda , Maryland   20814 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: ( 301 ) 380-3000     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered Class A Common Stock, $0.01 par value   MAR   Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter) Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 8.01. Other Events. On August 8, 2024, Marriott International, Inc. (“we”) entered into a Terms Agreement with J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Scotia Capital (USA) Inc., Truist Securities, Inc. and the other Underwriters listed on Schedule I thereto (the “Terms Agreement,” which incorporates by reference the Underwriting Agreement General Terms and Provisions, dated March 3, 2021 (which we previously filed on March 5, 2021 as Exhibit 1.1 to our Current Report on Form 8-K)) to issue $500,000,000 aggregate principal amount of our 4.800% Series PP Notes due 2030 (the “