DiamondRock Names Mark W. Brugger CEO
BETHESDA, MD, July 7, 2008. DiamondRock Hospitality Company (NYSE:DRH) ("DiamondRock") today announced that Mark W. Brugger has been named Chief Executive Officer, effective September 1, 2008. After that date, Bill McCarten, DiamondRock's current Chief Executive Officer and Chairman of the Board of Directors, will continue in his role as Chairman. In addition, the Board of Directors has announced that, effective September 1, 2008, it will expand the Board of Directors from 6 members to 7 members through the appointment of Mr. Brugger as a member of the Board of Directors.
Bill McCarten stated, "DiamondRock is one of the best positioned owners of premier hotels in the United States. I have worked closely with Mark Brugger for nearly five years. He is an exceptionally talented real estate executive and he will bring energy, creativity and good judgment to DiamondRock in his new role. The Board of Directors and I enthusiastically support Mark and are confident that he will provide outstanding leadership to DiamondRock."
Mr. McCarten added, "With the promotion of Mark to Chief Executive Officer, we will continue to have one of the strongest executive teams in the industry. I'm especially pleased that Mark will continue to receive sound advice from the same team that has driven its success. In particular, John Williams, one of the most respected hotel executives in the United States, will continue to lead our acquisition and asset management activities as President and Chief Operating Officer and will continue to serve on our Board of Directors. With strong leadership and the complementary skills of the team, DiamondRock is poised for future success."
Mark Brugger is one of the founders of DiamondRock and has served as its Executive Vice President, Chief Financial Officer and Treasurer since its formation in 2004. In this role, he led all of the Company's capital markets activities, helped to formulate strategies, and sourced a number of DiamondRock's hotel acquisitions. Prior to joining DiamondRock, Mr. Brugger had significant experience in real estate and lodging as a Vice President for Marriott International, Inc., where he was involved in numerous hotel transactions. He has also held the position of Vice President of Investment Sales at Transwestern Commercial Services and as Land Development Director at Brookfield Homes.
Mr. Brugger received his Juris Doctorate from American University School of Law and his Bachelor of Arts from the University of Maryland at College Park.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations.
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