Executives of Hyatt Hotels Corporation are restructuring the company this year in an effort to increase performance and effectiveness, CEO Mark Hoplamazian said May 10 during the company’s first-quarter earnings call.
The reorganization includes a realignment of the company’s operations and development teams and several senior management changes. CFO Harmit J. Singh will step down on Aug. 15 and will be replaced by Gebhard F. Rainier, the company’s managing director of Europe, Africa and Middle East. Singh will remain with the company in an executive VP position until year’s end.
Additional changes include the establishment of three operating regions—Asia; the Americas; and Europe, Africa and the Middle East—to be supported by a new global operations center.
A real estate and capital strategy group also was formed to manage Hyatt’s hotel assets and provide development support around the globe.